Solana (SOL) has been on a remarkable run lately, catching the attention of both retail traders and big institutions. Over the past week alone, the token has gained 20%, now trading close to $243.
With momentum building, many are asking the big question: could Solana really be on its way to $1,300?
Behind the price jump lies a mix of strong fundamentals and growing institutional interest. Recent data from Strategic SOL Reserve (SSR) reveals that 17 different Solana treasury firms now hold over 10 million SOL tokens combined, worth roughly $2.5 billion.
Among these firms, Sharps Technology, DeFi Development, and Upexi each own more than 2 million SOL, showing deep corporate confidence in the network.
Recently, Galaxy Digital bought nearly 5 million SOL, worth more than $1.1 billion, moving most of it into Coinbase Prime custody. The purchase is linked to Forward Industries, which is building the largest publicly traded Solana treasury.
It isn’t just whale accumulation driving optimism. Solana continues to post massive transaction volumes, often surpassing 30 million daily, far ahead of rivals like Ethereum. That level of activity shows real usage, which adds credibility to the rally.
The regulatory backdrop is also playing a role. While the SEC has delayed decisions on Franklin Templeton’s proposed Solana ETF until November 14, the repeated extensions may actually signal growing acceptance.
Unlike weaker altcoins, SOL’s strong market position and network activity suggest a better chance of approval before the end of 2025.
Well-known chart analysts Ali Chart highlight the formation of a bullish “cup and handle” pattern, which historically points to strong breakouts. If momentum holds, some forecasts suggest SOL could climb toward $1,300, over 5x times higher than today’s levels.
Still, risks remain. If Solana fails to break past the $242–$246 resistance zone, a pullback toward $184 is possible.
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