Overview
- Solana rallied roughly 10% to break back above the $80 level in a move measured across July 2–3, pushing price into the $80–$81 range.
- On‑chain metrics show record usage with about 3.77 billion non‑vote transactions in June, roughly 100 million daily transactions, and total value locked near $4.8 billion.
- Solana activated a Governance Proposal (SGP) framework and traders are positioning ahead of the planned Alpenglow upgrade, which together have encouraged accumulation.
- Institutional and corporate demand has increased, with Forward Industries expanding its SOL treasury to more than 7.5 million tokens and Spiko launching Amundi‑managed tokenized money‑market funds on Solana.
- Derivatives data show concentrated short positions between $82–$84 and rising open interest that could fuel rapid upside to $83.8 and the $89–$90 zone, while key resistance sits near the 200‑day moving average at about $94 and macro or ETF flows could reverse the rally.