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Solana attracted renewed market attention after two analysts projected higher price targets while Japan's SBI Group unveiled a new Solana-focused venture. Crypto trader Ansem forecast a move toward $150 over the coming months, while analyst Michaël van de Poppe identified $100 as a possible near-term target if key support remains intact.
At the same time, SBI announced plans to establish SBI Solana Global to develop tokenized financial services on the Solana blockchain, adding another institutional development for the network.
Ansem said many on-chain altcoins appear ready for a breakout after extended consolidation. He expects Solana to reclaim the top of its trading range near $84 before advancing toward $150 over the next few months.
He said the projected move would mark Solana's first sustained uptrend in more than a year. Based on the reported market price of about $75.8, the target represents an increase of roughly 98%. Meanwhile, van de Poppe outlined a more cautious outlook. He said Solana must hold the $76.6 level to confirm continued upward momentum. If that support remains intact, he expects the asset to trade above $100 within one to two months.
Besides the technical outlook, on-chain activity has continued to strengthen. BeInCrypto reported that Solana's total value locked climbed to its highest level since early June, suggesting fresh capital entered the network.
Moreover, deposits across Solana-based applications increased while long-term holders continued accumulating tokens. At the same time, both open interest and funding rates declined, indicating spot demand drove recent activity instead of leveraged trading.
Active wallet addresses also climbed and approached yearly highs. Nevertheless, institutional demand presented a different picture. According to SoSoValue data, Solana spot exchange-traded funds recorded their first monthly net outflow during June 2026, totaling about $790,000.
July brought some recovery with month-to-date inflows of approximately $3.65 million. Even so, those figures remained well below the $199.21 million recorded during the October launch and the $419.38 million peak reached in November.
Furthermore, broader market risks remained in focus. Renewed US-Iran tensions and the possibility of higher interest rates continued to weigh on risk assets, creating additional uncertainty for cryptocurrency markets.
Separately, SBI announced a partnership that will place the Solana Foundation alongside SBI and Sumitomo Mitsui Financial Group within SBI R3 Japan. The company also plans to rename the business SBI Solana Global after completing the required corporate procedures.
The new venture intends to use Solana as its primary blockchain infrastructure. SBI said the platform will connect Japan's regulated financial system, domestic assets, and legal framework with international blockchain markets while pursuing its goal of making Japan a major on-chain finance hub in Asia.
Read More: Solana Price Prediction for 2026: Can SOL Overtake Bitcoin?
In addition, SBI Solana Global plans to support the issuance and distribution of yen stablecoins, including JPYSC, alongside tokenized corporate bonds, commercial paper, investment funds, and real estate products. The company also plans to provide integrated issuance, distribution, and settlement services throughout an asset's on-chain lifecycle.
The partners also listed cross-border payments, institutional blockchain services, and payment systems for AI agents among future business areas. However, they did not provide launch dates, revenue forecasts, client commitments, or details about regulatory approvals required for individual services.
Meanwhile, the project expands SBI's broader digital asset strategy. Earlier initiatives included a regulated yen stablecoin developed with Startale and the launch of Ripple's RLUSD stablecoin in Japan through SBI VC Trade following regulatory approval.
Solana attracted renewed attention as analysts projected higher price targets while on-chain activity strengthened despite softer ETF demand. At the same time, SBI expanded its commitment to the Solana ecosystem through a new blockchain venture in Japan, adding another institutional development for the network. Market participants will continue watching both adoption trends and broader market conditions.
