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Key Takeaways
Which factors drove Solana’s strong week?
Forward Industries launched a record Solana treasury strategy, and Solana Strategies landed a Nasdaq listing.
How did Solana’s market react?
Despite a slight 2.7% pullback to $233, Solana’s chart remained healthy and showed a broader uptrend.
It feels like Solana [SOL] can’t sit still… and last week proved it.
From creators cashing in millions on Pump.fun [PUMP] to Wall Street suddenly paying a lot more attention, the ecosystem had one of its busiest and most surprising weeks yet.
Here’s your weekly update!
Solana: Weekly update
One of the biggest headlines of the week came from Forward Industries, a newly formed, publicly traded company backed by Galaxy Digital, Multicoin Capital, and Jump.
The firm now manages one of the largest Solana treasury strategies on record.
Source: Strategic Solana Reserve
Adding to that momentum, Solana Strategies secured a Nasdaq listing, bringing direct Wall Street visibility to the ecosystem.
While these moves don’t guarantee price action, they show a clear trend of institutions no longer being content on the sidelines.
For a network often powered by retail energy, the entry of big players could set the tone for how Solana is positioned in global markets.
Trading activity cools despite steady gains
Solana’s has been in a mixed mood lately.
Source: DefiLlama
DEX volumes slipped from late August highs, settling closer to the $10-12B range, while TVL held steady above $150B.
Source: Coinalyze
Open Interest hovered around $7.4B, so traders remained active but not overly aggressive. Meanwhile, Funding Rates stayed slightly positive at 0.0064; balanced positioning rather than overheated leverage.
In short, Solana’s market structure looked healthy. Price gains came with controlled leverage, even as spot volumes lessened from their recent peaks.
SOL’s just taking a moment
Solana traded at $233 at press time, slipping 2.7% after touching $244 earlier.
Momentum indicators showed cooling rather than collapse. The RSI pulled back from near-overbought levels to 63, so there’s room for more upside if buyers return.
MACD remained positive, though momentum slowed, so there’s potential for consolidation.
Source: TradingView
Importantly, SOL traded well above its key EMAs, with the 20-day at $217 and the 200-day near $176. That buffer showed the broader uptrend is intact.
In short, the chart points to a healthy pause, a reset after last week’s fireworks.