The post Solana gains momentum with institutional backing appeared on BitcoinEthereumNews.com.

Solana posts 17% weekly gain, eyeing $300 as institutional demand grows. Galaxy Digital buys $326M SOL for Multicoin, with $1B more cash to deploy. $250 remains Solana’s key pivot; a breakout could retest $295 ATH soon. Solana (SOL) is closing one of its strongest weeks of 2025, recording a 17% gain over the past seven days. Among the top 20 crypto assets, only Dogecoin and Hyperliquid have outperformed it. The rally positions SOL for its highest weekly candle close since January, fueling speculation of a potential move toward the $300 level. Currently trading about 15% below its all-time high of $295, Solana has drawn attention for its technical resilience and rising institutional support. Futures and spot data show healthy market structure According to CoinGlass, Solana futures open interest (OI) hit a record $16.6 billion on Friday. Despite this surge, perpetual funding rates have remained stable, indicating that positions are not excessively leveraged. This balance suggests the market still has room for further upside if momentum continues. Market structure data adds to the bullish case. Net taker volume has leaned buy-heavy, signaling more aggressive buyers entering positions. At the same time, aggregated futures cumulative volume delta (CVD) has stayed flat, suggesting long and short positions are well-balanced despite record OI levels. Importantly, spot CVD is climbing higher, pointing to a rally driven by spot markets rather than futures—a dynamic often viewed as healthier for sustained growth. From a momentum standpoint, relative strength index (RSI) data is also notable. In previous rallies near $295, Solana’s RSI entered overbought territory, raising the risk of sharp pullbacks. This time, RSI has not reached those extremes, leaving room for the rally to extend further before encountering significant technical resistance. Institutional interest and key technical levels Institutional activity has been another major driver of Solana’s recent…

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Filed under: News - @ September 12, 2025 5:30 pm