In the category of United States-made crypto assets, Solana (SOL) remains one of the most sought-after digital assets by both retail and institutional investors. The large-cap altcoin, with a fully diluted valuation of about $72 billion, recorded a 24 percent growth in its 24-hour average traded volume to about $5 billion on Saturday during the early European trading session.
As the dust for the U.S. reciprocal tariffs gradually settles, it is clear that Bitcoin (BTC) and the wider altcoin market are a better hedge against macroeconomic uncertainties. Moreover, Wall Street experts – led by J.P Morgan research that lowered U.S. growth estimate in 2025 by 1.6 percent – forecast a possible global recession.
The Solana network has experienced explosive growth in the tokenization of real-world assets (RWA) led by stablecoins in the recent past. With a total value locked of about $6.6 billion at the time of this writing, the Solana network has added over $8 billion in stablecoins minted since the re-election of U.S. President Donald Trump, late last year.
Among the recent notable integrations of the Solana network is with Venmo and PayPal. On Friday, payment giant PayPal announced the expansion of its U.S. cryptocurrency services to include Solana and Chainlink (LINK).
Also Read: XRP News Today: Price Rises 4%, Ripple Outpaces BTC and ETH in South Korea
After being trapped in a correction mode since the second inauguration of U.S. President Donald Trump, SOL price has signaled a potential reversal towards a parabolic rally soon.
From a technical analysis standpoint, the SOL price has established a robust support level of around $113. Notably, SOL price has formed a double bottom around $113, in the daily timeframe, coupled with a rising divergence of the Relative Strength Index (RSI).
If Bitcoin price regains bullish momentum and rallies above $85k soon, SOL price will rebound above $177 in the near future. However, a consistent close below $113 will trigger a rejuvenated capitulation below $100k in the subsequent weeks.
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