Solana (SOL) fell 5.2% in 24 hours to $68.93, extending its short-term weakness with an 18.65% drop over the past 30 days and a 24.57% decline over 90 days. Despite the price slide, the network secured strategic partnerships with major South Korean financial institutions, including Toss Bank and KG Inicis, which are seen as positive signals for the medium to long term.
Price action and whale positions
Solana is trading in a range between the $60 support and $75 resistance, currently at $68.93 with a 24-hour volume of $2.13 billion. Technical analysis shows a rising wedge pattern forming since early June, with immediate resistance at $76.65 and a supply zone near $85-88. A breakout above $97.7 is needed for a sustained bullish momentum.
Futures market data reveals starkly divergent bets among large traders. One whale opened a 20x leveraged long position of 225,004 SOL (about $2.43 million), while another trader known as '0x9137' established a 20x short on 554,680 SOL (roughly $3.82 million). These opposing positions suggest high uncertainty and potential for increased volatility at current levels.
Institutional adoption and RWA tokenization
Toss Bank, one of South Korea's three internet-only banks, signed a strategic MOU with the Solana Foundation in Seoul — the first such one-on-one partnership between a Korean internet bank and Solana. The collaboration will test global remittance and payment infrastructure on Solana, exploring stablecoin use for cross-border payments. Separately, KG Inicis, a major payment platform processing over 25 trillion won annually, announced it will integrate stablecoin payments on Solana through a separate MOU with KG Financial Group.
Allfunds, a fund platform connecting over 3,300 asset managers with approximately €1.8 trillion in assets, is expanding its tokenized fund platform to Solana. This integration allows tokenized fund shares to be issued and distributed directly on Solana, potentially driving long-term demand for SOL as institutional products require it for fees and collateral. The move strengthens Solana's real-world asset (RWA) narrative and positions it as financial infrastructure beyond a speculative asset.
Ecosystem developments
MoneyGram has joined the Solana developer platform as an infrastructure partner and is now an active validator on the network. The Solana Foundation launched the 'Frontier Traders' program on June 17, consolidating exchange trading activity and offering VIP fee rebates, priority infrastructure access, and account support to qualified high-volume desks. A SpaceX-themed trading campaign with a $25,000 prize pool is underway for the top 100 SPCX traders, with a London event scheduled for June 25.
On-chain retail platforms tokenizing Pokémon cards saw trading volume surge to $230 million in May 2026, up from $32 million a year earlier — a sevenfold increase. This demonstrates Solana's growth in niche RWA verticals beyond DeFi and NFTs.
Outlook
Solana's medium-term roadmap focuses on the Firedancer validator client launch, which is expected to improve scalability, reliability, and decentralization, catalyzing institutional adoption. The partnerships with Toss Bank, KG Inicis, and Allfunds signal a strategic shift from pure DeFi and NFT focus toward stablecoin payment rails and RWA tokenization infrastructure. While these institutional collaborations may take time to translate into on-chain activity, they reinforce Solana's long-term value proposition.