SOL Shatters $209 Barrier as Galaxy Digital Launches SEC-Registered GLXY Tokens - Is $300 Next?

Solana rockets past critical resistance as institutional players double down on blockchain innovation.

Galaxy Digital's new SEC-registered token offering sends shockwaves through traditional finance corridors—proving once again that regulatory approval isn't slowing down crypto's march toward mainstream adoption.

The GLXY token launch represents more than just another product—it's a strategic move that validates Solana's infrastructure at the institutional level. While Wall Street still debates whether crypto is 'real,' billion-dollar firms are building the future right under their noses.

Technical indicators scream bullish: SOL's breakout above $209 wasn't a fluke—it was a statement. The network's scaling solutions and developer activity have turned this former 'Ethereum killer' into an institutional darling.

Traders watching this surge should note: when regulated products hit the market, dumb money follows smart money. And smart money is stacking SOL.

Will Solana test new all-time highs? The charts say yes. The fundamentals agree. And the suits at the SEC? They're just trying to keep up.

Lucid executes a split

Lucid split its stock on Tuesday, but this was not a forward split -- the kind investors love to see -- it was a reverse split. The 10-for-1 reverse split means that, as trading opened yesterday, Lucid stockholders had 10% as many shares that were worth 10 times as much. This, in and of itself, doesn't change the dollar value of a stake in Lucid. If your stake was worth $5,000 before the split, it was worth $5,000 after -- at least in theory.

Image source: Getty Images.

The market tends to view reverse splits negatively, believing it signals bad times ahead. It often does. By and large, the MOVE is used to avoid a delisting from the Nasdaq Stock Market or New York Stock Exchange, which both require minimum share values of $1.

As soon as Lucid executed the split, the stock fell. It's now down more than 15% from Tuesday's open.

Lucid is struggling

This is a crucial moment for Lucid, as the stock is sliding and the company continues operating deep in the red. Its newly released Gravity SUV must sell extremely well for the company to have a chance of surviving. While sales have been decent, they have not lived up to expectations thus far. I WOULD stay away from Lucid stock. A turnaround appears less and less likely by the day.