Solana price is seeing another surge of whale and institutional interest. The SOL token is trading at $235 after touching $240 this week, fueled by multi-billion-dollar treasury inflows, accelerating stablecoin deposits, and bullish technical setups that some analysts believe could propel SOL price toward new all-time highs above $294, and even $500.
Whale Accumulation and DeFi Inflows Fuel Bullish Outlook
Fresh data shows 17 treasury firms now hold 17.1 million SOL, representing nearly 3% of the total supply. Forward Industries invested $1.65B in Solana for DeFi deployment, while Galaxy Digital secured $1.55B in just five days. Helius also raised $500M for Solana-focused strategies, an influx that has positioned Solana as a top corporate allocation target.
“All this activity suggests $SOL has plenty more to come in terms of price action,” noted analyst Lark Davis, adding that once SOL clears $250, the path could open to new ATHs above $294.
Perhaps the strongest near-term driver is stablecoin supply. According to Artemis data, Solana saw the largest stablecoin inflow in the past 24 hours, pushing its total supply to $13.3B for the first time.
Market watchers see this as smart money “parking dry powder” for potential deployment into Solana DeFi protocols.
This dynamic supports ecosystem growth: Solana’s TVL rose 5% this week to $12.9B, keeping it the #2 DeFi chain behind Ethereum. Weekly DEX volumes jumped 32%, with cumulative 30-day volumes crossing $125B.
Solana Price Outlook: Technicals Hint at $500 Breakout
Popular cryptocurrency trader Kamran Asghar highlighted a big cup-and-handle pattern forming on Solana’s monthly chart. This bullish setup often signals the chance of a major breakout, with the $500 level in sight.
At the moment, SOL is holding between $230 and $240, with the $250 zone acting as stiff resistance. A clean move above that could unlock stronger upside momentum.
Short-term traders are currently focusing on support levels around $195 and $177, which correspond to the 50-day and 100-day moving averages, respectively. Solana price has already surged by 84% in the last six months and nearly 80% over the past year, making it one of the top-performing large-cap coins.
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