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Solana moved higher as Bitcoin held above $68,000, giving altcoins room to recover into the weekend. SOL reclaimed intraday structure while derivatives open interest expanded across major venues. At the same time, on-chain activity improved, with active addresses trending toward late-2024 highs. Together, these signals point to renewed participation as broader crypto sentiment steadies.
SOL defended the lower $80 region, an area aligned with late-2023 consolidation and repeated liquidity reactions over the past year. This zone has acted as structural demand across multiple cycles. As a result, the current hold carries technical weight despite the broader downtrend.
Meanwhile, the daily chart shows SOL attempting to reclaim the mid-$80s band, where the latest breakdown accelerated. A sustained move above this level would indicate fading selling pressure. In turn, that shift would mark a transition from impulsive decline toward stabilization.
At the same time, derivative positioning has started rebuilding across major venues. Expanding open interest signals fresh participation returning to the market. With Bitcoin stabilizing above its current value area, systemic downside pressure on altcoins has eased, allowing localized recovery attempts to develop.
From a structural view, SOL now sits in the early phase of a potential trend transition. The recent bounce formed after price swept liquidity below local support and reclaimed short-term structure in the mid-$80s. Historically, Solana recoveries begin with acceptance above reclaimed breakdown zones rather than sharp vertical reversals.
In this case, sustained holds above the $85 to $90 region would signal that sellers are losing control. Without that acceptance, price may rotate between recent lows and overhead supply. Could this stabilization mark the start of a broader recovery phase?
In parallel, Solana Company shares on NASDAQ under the ticker HSDT jumped about 17% on Friday. The firm unveiled a structure that allows institutions to borrow against natively staked SOL while keeping assets in custody.
The company, formerly Helius Medical Technologies, partnered with Anchorage Digital and Solana lending protocol Kamino. The structure enables loans backed by SOL that remain staked and held in segregated custody accounts at Anchorage. Holders can continue earning staking rewards while accessing on-chain borrowing liquidity.
Shares rose to around $2.30 after the announcement, rebounding from an all-time low near $1.80 earlier in the week. Even so, the stock remains down roughly 90% since the company pivoted to a Solana treasury strategy in mid-September last year.
The launch comes as publicly listed Solana treasury companies face ongoing pressure. SOL fell from roughly $245 when Solana Company rebranded in September to about $70 last week. The token later recovered toward the mid-$80 range.
Falling token prices have weighed on corporate balance sheets. As a result, firms increasingly rely on stakeholder income and alternative yield strategies instead of price appreciation alone.
Several peers have moved in similar directions. SOL Strategies launched a liquid staking token backed by more than 500,000 SOL last month. The product adds a fee-generating stream alongside validator and treasury operations.
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Sharpe Technology disclosed that its treasury earns roughly 7% annualized staking yield while expanding validator operations. Meanwhile, Upexi reported that staking income now accounts for most company revenue. Lower SOL prices still drove a $179 million quarterly loss tied largely to accounting revaluations.
As on-chain activity improves and institutional structures evolve, Solana’s ecosystem shows signs of internal rebuilding even as broader market conditions remain sensitive to price volatility.
Solana price rebound followed Bitcoin’s stability above $68K as open interest expanded and on-chain activity improved. SOL defended key structural support while institutions explored stake-backed liquidity solutions. Market focus now centers on whether sustained acceptance above the mid-$80 range confirms a broader stabilization phase.
