$SOL This project aims to break through the 'impossible triangle' of blockchain with a high-performance public chain and its native token. Its underlying Solana network is known for high throughput, low latency, and low costs, aiming to become mainstream infrastructure supporting large-scale decentralized applications (dApps).
Trading Setup
Key Buying Range: $118.00 - $128.00
Target 1: $145.00
Target 2: $180.00
Target 3: $220.00
Stop Loss: Below $112.00
Core Bullish Logic
1. Technical Barriers and Continuous Evolution: Solana's hybrid consensus mechanism (PoH+PoS) offers theoretical throughput of up to 50,000 TPS. The network is undergoing the Firedancer upgrade to address historical congestion issues and testing quantum-safe signatures to prepare for the future. The Kora service launched at the ecosystem level supports gas-free transactions, significantly lowering the usage threshold.
2. Thriving Ecosystem and Real Utility: Solana has evolved into the 'default high-performance public chain' for diverse applications such as DeFi, NFTs, and gaming. The on-chain stablecoin supply is projected to grow nearly threefold by 2025, indicating a real migration of financial activity. The ecosystem is actively exploring privacy and compliance domains to lay the foundation for attracting institutional funds.
3. Institutionalization and ETF Narrative: Regulated Solana futures are now traded on CME, paving the way for ETFs. Currently, several spot ETF applications have entered a critical review phase (October-November 2025), with strong market expectations for their approval. Furthermore, investment products have been approved for listing on Brazil's mainstream exchange B3, broadening fiat channels.
Core Risk Warning
1. Regulatory Sword of Damocles: The U.S. Securities and Exchange Commission (SEC) remains cautious. The approval of Solana spot ETFs has been delayed multiple times, and if ultimately denied or explicitly classified as securities, it would pose a significant challenge to ecosystem compliance.
2. Intense Competition and Ecosystem Involution: Facing comprehensive competition from Ethereum and its Layer 2 solutions, as well as emerging public chains like Aptos. Internally, after the Meme coin craze subsides, user activity and on-chain fee income have declined, necessitating the search for new sustainable growth engines.
3. Technical Dependence and Centralization Concerns: Multiple interruption incidents in network history have exposed its high dependence on a few core clients. Additionally, significant movements from 'whale' addresses often cause severe short-term price shocks.
Market Forecast
If the price can find support in the key range, along with core ETF approvals or major upgrades like Firedancer successfully launching, it is expected to break the $145 resistance level and initiate a new upward trend towards the $180-$220 area. Conversely, if the ETF is denied or delayed again, or if overall market sentiment weakens, the price may test the $112-$118 support area and enter a longer period of consolidation.