The Solana token is trading at
With a price of $145.47, up 7.63% in the last 24 hours, as traders responded to a sharp rise supported by strong activity in futures. The rise gained momentum after a sharp jump from $133.55 to $144.10, supported by above-average trading volumes during the hours of 17:00 and 22:00, according to CoinDesk Research's technical analysis model.
According to a post on X earlier today by cryptocurrency analytics company Glassnode, futures volume for CME reached a record level of 1.75 million contracts, reflecting an increase in institutional interest. This represents the highest volume level since the exchange introduced futures for SOL in March, indicating aggressive positioning by advanced market participants as the price approaches the $145 area.
In a separate long-term significant development, the government of Kazakhstan issued a press release on May 30 announcing the establishment of the Kazakhstan Special Economic Zone (SEZ KZ), the first initiative of its kind in Central Asia built on the Solana blockchain. The event was launched in Astana with support from the Solana Foundation and government agencies. According to the Ministry of Digital Development, Innovation, and Aerospace Industry, the special economic zone will serve as a testing ground for asset tokenization, blockchain engineering education, and attracting foreign startups.
The special economic zone initiative includes three strategic pillars:
Tokenized capital markets: A pilot program with AIX, the Solana Foundation, Jupiter, and Intbeeks aims to introduce tokenized financial instruments into Kazakhstan's infrastructure.
Talent development in the Web3 space: A national blockchain educational initiative will be launched in partnership with universities and Astana Hub.
Attracting startups: With support from Forma, the state plans to attract international Web3 companies through access to infrastructure, regulatory clarity, and business incentives.
Key points of technical analysis
rose by 7.63%, rising from $133.55 to $145.47 within a range of $15.94.
The sharpest rise occurred at 22:00, when the price jumped to $146.90 with a volume of 3.92 million.
A high-volume support level was established at $132.43 during the hour of 17:00.
SOL entered a consolidation zone between $143 and $146 with resistance at $146.55.
A V-shaped recovery occurred after a decline from $144.88 to $143.59.
Strong support emerged at $143.60 with a volume of 38,097 SOL at 13:53.
A short-term support range is forming between $143.60 and $143.80.
Immediate resistance was observed at $144.30.