Solana (SOL) is once again in the spotlight. Despite short-term weakness in the crypto market, analysts believe the token could rally more than 55% and revisit its all-time high. The optimism comes after bold predictions from Greg King, CEO of REX Financial, who sees Solana overtaking Ethereum in the fast-growing stablecoin sector.
Why Solana Stablecoin Momentum Matters
Stablecoins have become the backbone of crypto trading, payments, and DeFi. Ethereum has long dominated this space, but Solana is quickly catching up.
-
According to Artemis data, Solana’s stablecoin supply rose 5.6% in the past month to $12 billion, securing its position as the second-largest network after Ethereum.
-
During the same period, stablecoin transaction volume on Solana surged nearly 90%, hitting $192 billion.
-
Network fees also grew, averaging $1.4 million daily, a clear sign that activity and adoption are accelerating.
This growth gained momentum after the passing of the GENIUS Act, which introduced clearer rules for stablecoins in the U.S. — a development that could further boost Solana’s adoption.
REX Financial Bold Prediction
Greg King, CEO of REX Financial — a firm managing over $8 billion in assets — believes Solana’s technology stack is stronger than Ethereum’s when it comes to supporting stablecoins.
His view carries weight because REX recently launched a Solana Staking ETF, which already attracted $177 million in assets under management within a month of its debut. According to King, Solana’s low fees, high throughput, and fast confirmation times give it a real edge in handling large-scale stablecoin transactions.
Other Catalysts Driving SOL Price
Solana has multiple tailwinds that could push prices higher:
-
Potential Spot ETFs: At least 9 applications for Solana spot ETFs are currently awaiting approval. If greenlit by regulators, they could attract billions in inflows, similar to what happened with Bitcoin and Ethereum ETFs.
-
Transaction Growth: Solana processed 2.25 billion transactions in the last 30 days, far exceeding most other Layer-1 and Layer-2 blockchains.
-
Expanding Ecosystem: Beyond stablecoins, Solana continues to dominate in meme coins, NFTs, and DeFi, making it one of the most active blockchain networks today.
Also Read: BlackRock Invests $300M in Ethereum as Institutional ETF Inflows Return
SOL Price Technical Outlook
From a technical perspective, Solana has been climbing steadily since bottoming at $93.35 in April. On July 22, the token formed a golden cross — when the 50-day moving average crosses above the 200-day moving average, a classic bullish signal.
Currently, SOL faces resistance near the 61.8% Fibonacci retracement level, which aligns with a Murrey Math overshoot point. A clean breakout above this zone could set the stage for a rally toward $295, its all-time high – representing a potential 55% upside from current levels.
However, a drop below key pivot support could invalidate the bullish outlook and delay the recovery.
What This Means for Investors
Solana’s short-term price action may look shaky, but the fundamentals tell a different story. With growing stablecoin dominance, institutional ETF interest, and increasing transaction volumes, Solana is building a strong case for long-term growth.
For investors, the key question is whether Solana can hold above critical support levels and ride the wave of institutional inflows expected later this year.
FAQs
1. Why is Solana’s stablecoin growth important?
Stablecoins drive liquidity in crypto. Solana’s growing supply and transaction volume make it a serious competitor to Ethereum, giving it a stronger role in payments, DeFi, and trading.
2. How much could Solana’s price rise?
Analysts suggest SOL could rally about 55%, reaching its all-time high near $295, if it breaks current resistance levels.
3. Who predicted Solana will dominate stablecoins?
Greg King, CEO of REX Financial, predicted Solana’s technology could eventually outpace Ethereum in the stablecoin market.
4. What role do ETFs play in Solana’s price outlook?
With nine spot Solana ETF applications pending, approval could bring significant institutional inflows, boosting demand and liquidity for SOL.
5. Is Solana outperforming other blockchains?
Yes. With over 2.25 billion transactions in 30 days, Solana is processing more activity than most Layer-1 and Layer-2 chains, showing real-world usage and adoption.