A bullish signal from Solana’s SuperTrend indicator projected a major rally, though SOL price could drop to $220 before taking off. Key takeaways: Solana’s Supertrend indicator sent a “buy” signal that has led to a 1,300% price rally in the past. Resistance at $250 and overbought conditions show a risk of SOL retesting $220. Read more
Helius said it will explore staking and lending opportunities to further leverage its SOL treasury, which it plans to build over the next 24 months. Nasdaq-listed Helius Medical Technologies is launching a $500 million corporate treasury reserve built around Solana, making it one of the largest Solana-focused treasury initiatives to date. The company announced Monday that it priced an oversubscribed private investment in public equity (PIPE) offering of common stock at $6.88 per share, along with stapled warrants exercisable at $10.12 for three years. The deal includes $500 million in equity and up to $750 million in warrants, assuming full exercise. Helius said it will use the net proceeds of the offering to establish a crypto treasury strategy with the Solana (SOL) token as its main reserve asset. The company said it will “significantly scale holdings over the next 12-24 months via best-in-class capital markets program incorporating ATM sales and other proven strategies.” Read more
Solana futures open interest rose to $16.6 billion as Galaxy and Forward Industries joined the adoption party. Is SOL headed toward $300 next? Key takeaways: Solana futures open interest hit $16.6 billion, and its perpetual futures funding rates are stable, hinting at further price upside. Spot-driven rally pushes SOL price, reinforced by Galaxy and Forward Industries’ buy demand. Read more
SOL price is 70% higher than its $125 lows reached on June 22, as onchain data and a classic pattern suggest that SOL is on track to fresh record highs. Key takeaways: Solana's total value locked rises to an all-time high above $12 billion. Solana’s memecoin daily trading volume jumped 73% over the last 24 hours. Read more
Forward Industry’s $1.6 billion SOL corporate treasury would be nearly triple the size of the largest existing Solana reserve. Nasdaq-listed design and manufacturing company Forward Industries secured $1.65 billion in cash and stablecoin commitments to launch a Solana-focused crypto treasury strategy. The company said Monday that it raised the largest Solana (SOL) treasury to date, led by crypto-native companies Galaxy Digital, Jump Crypto and Multicoin Capital. Other participants included C/M Capital Partners, which is one of Forward Industries’ existing shareholders. This follows a Bloomberg report in late August saying the three crypto giants were planning to raise $1 billion and take over a publicly-traded company to create the biggest crypto treasury dedicated to Solana. Read more