Solana Faces Potential Retracement Amid ETF Delays as Mantix Gains Traction in DeFi
Solana’s price may retreat to $100 as the US SEC delays decisions on spot solana ETF filings, while Mantix Exchange’s AI-powered DeFi platform attracts significant presale investment.
Solana Price Could Retrace To $100 As Mantix Launches New DeFi Trading Exchange
Solana’s recent momentum is waning following the US SEC’s delay in deciding on spot Solana ETF filings. Market analysts now predict a potential retracement to $100, with technical indicators turning bearish.
Meanwhile, Mantix Exchange is gaining traction in the altcoin market with its AI-powered decentralized trading platform. The project has raised over $600K in its ongoing presale, demonstrating strong investor confidence in its vision to revolutionize user-driven asset trading.
The contrasting fortunes of these two projects raise questions about potential shifts in market leadership, with some experts suggesting Mantix may outperform Solana in coming months.
Solana Corrects 4.5% Amid Midnight Sell-Off as Institutional Activity Raises Eyebrows
Solana’s SOL token tumbled below its $177 support level during a late-night trading session, with prices finding temporary footing at $170.41. The 4.5% dip coincided with a surge in trading volume to 1.26 million SOL, suggesting concentrated exit activity among institutional players.
Geopolitical tensions continue casting shadows across crypto markets, prompting portfolio rebalancing away from risk assets. Yet Solana’s fundamentals show resilience—R3’s strategic pivot to integrate with the blockchain underscores growing enterprise adoption for real-world asset tokenization.
Technical charts reveal critical support established between $170.67-$171.66, with the midnight sell-off briefly breaching $172. The ecosystem’s expanding institutional footprint contrasts with short-term price action, highlighting the divergence between trader sentiment and developer activity.
Solana (SOL) Price Breaks Key Resistance, Analysts Share Bullish 2025 Targets
Solana has surged past the critical $175 resistance level, reigniting bullish sentiment among analysts. The LAYER 1 token now eyes $200 as technical indicators strengthen—RSI climbs above neutral while exchange volumes show sustained demand. Extreme greed dominates market psychology, with the Fear & Greed Index hitting 78 amid 17 green days in the past month.
Network activity and DeFi engagement are driving renewed institutional interest. The breakthrough comes as Solana competes aggressively in the crowded Layer 1 space, with its performance against ethereum and other rivals becoming a key narrative for 2025 price targets.
Kraken Launches xStocks with Solana for Tokenized Equities
Kraken, in collaboration with Backed and Solana Foundation, has introduced xStocks, a groundbreaking service offering tokenized U.S. equities and ETFs on the blockchain. This initiative marks a significant stride in bridging traditional finance with decentralized finance (DeFi).
Solana’s high-speed, low-cost infrastructure has been selected as the backbone for this global rollout, underscoring its growing influence in the institutional crypto space. The tokenized assets, compliant with Solana’s SPL standard, will initially be accessible to eligible users in select non-U.S. markets through the Kraken app.
The MOVE signals accelerating institutional adoption of blockchain technology for traditional financial instruments. By leveraging Solana’s efficiency, Kraken positions itself at the forefront of the tokenized securities revolution.
