Solana (SOL) is making waves in May 2025, trading at ~$SOL 152 with an 8% gain and 35% higher trading volume, outperforming many top cryptocurrencies. Institutional interest is surging, with DeFi Development Fund (formerly Janover) filing for a自主化 $1 billion SOL offering and Upexi raising $100 million to accumulate SOL. Solana Strategies announced a $500 million convertible-note facility to acquire SOL, adding significant buy pressure. Canada launched the world’s first spot Solana ETF, boosting SOL by 7%, while Bloomberg estimates a 90% chance of U.S. ETF approval.
Network activity is robust, with 4.2 million active weekly wallets (32% growth in 90 days) and 32.7 million daily transactions. Solana’s DEX volume hit $SOL 500 billion in Q1, surpassing Ethereum. Meme coins like Fartcoin and Bonk have driven a $6 billion market cap within Solana’s ecosystem. However, a bearish wedge pattern and resistance at $SOL 160–$200 signal potential volatility, with analysts predicting $180–$400 by year-end.
