Solana (SOL) is drawing heightened investor attention as major financial institutions expand partnerships and a key protocol upgrade nears completion. Trading at $71.44, the asset has rebounded about 23% from its June low but faces near-term resistance and rising exchange inflows that could fuel volatility.
Institutional adoption accelerates
MoneyGram, the world’s second-largest money transfer firm, has officially joined the Solana ecosystem by operating a validator node. The company also became an infrastructure partner of the Solana Developer Platform, connecting over 500,000 retail locations and 60 million customers to Solana's on-chain system. This marks one of the most significant entries of a legacy financial firm into a public blockchain, demonstrating how enterprises can earn staking rewards and participate in protocol governance while strengthening Solana's position in cross-border payments.
Morgan Stanley filed an amended S-1 for a Solana spot ETF on June 18, revealing a management fee of 0.14% — the lowest among proposed Solana and Ethereum ETFs in the U.S. The fund, ticker 'MSOL', will list on NYSE Arca and aims to pass 95% of staking rewards to holders. Service providers include Figment, Galaxy Blockchain Infrastructure, and Coinbase Canada. Market analysts at CoinGabbar noted that the filing provides Solana with a level of institutional support that no altcoin besides Ethereum has achieved, regardless of eventual SEC approval.
Technical upgrade and RWA growth
Solana's core development team announced that the Alpenglow consensus upgrade successfully passed its main testnet in June, targeting transaction finality under 150 milliseconds with 95% validator participation. The upgrade strengthens Solana's performance roadmap for high-frequency trading and payment applications. Meanwhile, Solana-based real-world asset (RWA) platforms — including Collector Crypt, Courtyard, and Deadstock — generated about $230 million in revenue in May 2026, a sevenfold increase from $32 million a year earlier, driven largely by tokenized Pokémon cards and gamified gacha-style trading.
Price outlook and capital rotation
SOL is currently trading at $71.44 with a market cap of $41.47 billion, down 3.12% in the past 24 hours and 16.75% over the past month. The $73 support level is critical: holding it keeps the recovery scenario intact, while a breakdown could lead to $67–$68 and eventually $50. Resistance sits at $80–$82. On the 4-hour chart, a TD Sequential sell signal has appeared, and the 200-day SMA at $75 is acting as resistance. About 600,000 SOL have flowed into centralized exchanges, suggesting potential short-term selling or hedging. Notably, while Bitcoin and Ethereum ETFs saw about $237 million in outflows, new capital rotated into Solana and XRP products, signaling a shift toward altcoins with strong narratives and upcoming catalysts. Solana remains about 76% below its all-time high of $293.31, with the 20-day, 50-day, and 100-day EMAs at $71.96, $78.20, and $85 respectively — the latter having rejected price three times in the past two months.