Solana’s Recent Surge: A Deep Dive into the Crypto’s Strongest Week of 2025
Solana (SOL) has been making waves in the cryptocurrency market, with its price increasing by 17% over the past seven days. This significant surge has led to speculations about a potential push towards $300. According to Coinglass data, Solana futures open interest rates reached a record $16.6 billion on Friday, with stable and constructive financing rates indicating that positions are not excessively leveraged, leaving room for further upward momentum.
The market structure also supports the bullish case, with net taker volume leaning buy-heavy and showing more aggressive buyers. Additionally, the spot CVD is increasing, emphasizing that the rally is more spot-oriented and often regarded as a healthier setup. 
Institutional Support and Its Impact on Solana’s Price
Arkham Intelligence reported that Galaxy Digital, on behalf of Solana Data from Multicoin Capital, will be undertaking a large SOL purchase program, dubbed Allocation Trust. On September 12, Galaxy acquired $326 million for the Trust, with Arkham noting that the vehicle still has significant dry powder, consisting of $354 million in stablecoins and up to $1 billion in cash, intended for further SOL purchases. This development follows the Forward Industries update, which announced a $1.65 billion company backed by Galaxy Digital, Jump Crypto, and Multicoin Capital, marking the first NASDAQ company to raise institutional capital for direct exposure to Solana.
This influx of institutional support is a significant factor in Solana’s recent price surge. The increasing demand from institutional investors, coupled with the stable financing rates, has created a constructive environment for the crypto’s price to rise. 
Key Levels to Watch: $250 and Beyond
SOL is currently 15% below its all-time high of $295, with the $250 level serving as a crucial pivot point. This level has multi-year significance, having acted as a weekly lockout zone/resistance since 2021. The relative strength index (RSI) also indicates that the rally may still have room to run, as it has not reached overbought levels. 
If Sol can secure a strong weekly close above $250 and confirm with consecutive closures above this level, it would likely shift market sentiment. This could pave the way for a re-test of $295, with the possibility of price discovery above $300 occurring in the fourth quarter. For more information on Solana’s recent surge and its potential impact on the cryptocurrency market, visit https://cointelegraph.com/news/sol-futures-hit-dollar16-6-billion-is-dollar250-solana-next
