Solana Holds Key Support Amid Network Upgrades and Cautious Market Sentiment
Solana (SOL) has demonstrated resilience by maintaining its critical $162 support level, even as trading volume declined by 30% to $3.8 billion over the past 24 hours. The recent Alpenglow upgrade has been a game-changer for the network, slashing transaction finality from 12 seconds to an impressive 150 milliseconds, significantly boosting efficiency. Despite these advancements, market sentiment remains cautious, with analysts projecting only modest price fluctuations for SOL through 2025. Currently, SOL is trading at $168.12 USDT, reflecting a stable but muted bullish momentum. This weekly review delves into Solana’s performance, network improvements, and future outlook.
Solana (SOL) Weekly Review: Key Support Holds Amid Volume Decline
Solana stabilizes above the critical $162 support level despite a 30% drop in trading volume to $3.8 billion over the past 24 hours. The Alpenglow upgrade has significantly improved network efficiency, reducing transaction finality from 12 seconds to 150 milliseconds.
Analysts project modest price fluctuations for SOL through 2025, with muted bullish momentum reflecting cautious market sentiment. The asset currently trades at $166.61, showing minimal weekly movement after a 4.8% decline.
Coinbase Alumni Raise $11M to Launch Solana-Based Stablecoin DeFi App
Former Coinbase executives Vishal Gupta and Patrick McCreary have secured $11 million in funding for True Markets, a mobile-first DeFi platform built for stablecoin trading on Solana. The startup’s total funding now reaches $20 million as it targets iPhone users with non-custodial, real-time execution capabilities.
Accomplice and RRE Ventures co-led the investment round, with participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures. The solana blockchain was selected for its speed and security advantages in crypto transactions.
Solana Could Soon Witness Its Largest Consensus Change as Developer Proposes ’Alpenglow’
Solana developers are preparing for what may become the blockchain’s most significant Core upgrade, introducing a redesigned consensus protocol named Alpenglow. The proposal, unveiled by infrastructure firm Anza, aims to replace Solana’s current Proof of History and Tower BFT systems with a new framework built for near-instant finality and responsiveness.
Proof of History, a cryptographic clock unique to Solana, and Tower BFT, its Byzantine Fault Tolerance mechanism, have been foundational to the network’s operation. The shift to Alpenglow represents a major technical evolution, targeting improved efficiency and scalability for the high-throughput blockchain.
Solana Price Outlook: Bull Run Imminent With Targets at $385
Solana (SOL) is currently trading near $170, supported by a robust 24-hour trading volume of $3.5 billion and a market capitalization of $88.5 billion. Despite a 6.30% weekly decline, the cryptocurrency has demonstrated resilience with a 20% monthly gain, underscoring its underlying strength.
The $120-$130 accumulation zone has emerged as a firm support level, reflecting investor confidence in SOL’s short-to-medium-term growth potential. Technical analysis reveals an ascending triangle pattern, suggesting a bullish breakout could be imminent if the price clears the $170 resistance.
Projected price targets for SOL include $297, $338, and $385, indicating significant upside potential. Market participants are closely watching for confirmation of the breakout, which could propel Solana into a new phase of its bull run.
