Key Takeaways:
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Solana Futures Open Interest hits $ 16.6 billion, and the forever funding rates of futures are stable, indicating the additional price reversed.
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Spot -driven rally drives the Sol Price, boosted by the Galaxy and Forward Industries’ Buy Demand.
Solana (Sol) is posting one of the strongest weeks of 2025, gaining 17% over the past seven days, walking only Dogecoin and Hyperliquid with the top 20 crypto ownership. The surge puts the Sol on the track for the highest weekly candle close since January, which has poured out the speculation in a push to a $ 300 level.
Coinglass data shows Sol Futures Open Interest (OI) that hits a record of $ 16.6 billion on Friday. However, the eternal funding rates will remain stable despite the jumping of the OI. This is a constructive signal, which suggests positions are not too much to be -in -−Lave, leaving the room for further reversal if the momentum continues.
The market structure increases weight in the bullish case. The amount of net taker depends on the purchase of the purchase, which shows more aggressive consumers entering. However, the integrated futures of the integrated volume of the delta (CVD) remain flat, meaning long and short positions are balanced even at OI levels.
On the other hand, the spot CVD climbs higher, featured that the rally is driven by the spot rather than driven by futures, which are often taken as a healthy setup.
Arkham Intelligence mentioned The Galaxy Digital began to conduct a major SOL purchase program on behalf of the solana dat of multicoin capital (designated trust allocation).
On September 12, Galaxy earned $ 326 million in SOL for trust. Arkham’s note still has a significant dry powder with $ 354 million in Stablecoins and up to $ 1 billion cash, which is marked for additional SOL purchase.
This development follows the Forward updating industries.
The Forward Industries is the first NASDAQ company that raises institutional capital to directly deploy Solana, which has signed a growing wave of corporate adoption.
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Sol at $ 250 remains key line in sand
Sol is currently trading 15% below all times high $ 295, with a $ 250 level as the main point of pivot. This level carries multi-year importance, acting as a weekly closure of the zone/resistance to three separate occasions since 2021.
In November 2024 and January 2025, Sol exchanged between $ 275 and $ 295 but pulled back to close to $ 250, featuring $ 250 as a major level at which income acquisition took place. Thus, the trend suggests a similar risk of supply pressure resurfacing in this zone.
However, the current market includes a Sol Strategic Reserve, drawing comparisons with the institutional supporters of Ethereum. This reserve can relieve sharp reflection, providing grade-institutional liquidity that changes traditional dynamics around resistance levels.
From a momentum stance, the behavior of the Kaba -Son of Index (RSI) is also noteworthy. Previously, when Sol approached $ 295, the RSI moved to levels of over -thinking. At this time, the RSI did not reach the excess, suggesting the rally could still have a room to run.
If Sol can secure a strong weekly close to the top of $ 250 and confirm that there is a consecutive closure at that upper level, the sentiment in the market will likely change. It will open the path to retesting $ 295, with the hope of entering the price detection of over $ 300 in Q4.
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
