Solana (SOL) Price: Surges to $134 as Institutions Jump on the SOL Train

TLDR

Table of Contents

Solana (SOL) price is currently trading around $134.72, testing $130 support while eyeing breakout above $144 resistance
Over 32 million SOL transacted at $129.79, indicating strong buying support at this level
Janover purchased 80,567 SOL worth $10.5 million, bringing total holdings to 163,651 SOL ($21 million)
Janover partnered with Kraken through a Letter of Intent for SOL staking, following acquisition of Janover by former Kraken executives
Analysts predict SOL could reach $170-$180 if it holds key support levels, with institutional adoption potentially pushing it toward $200

Solana (SOL) is attracting market attention as it trades at $134.72, with major price movements and institutional adoption shaping its trajectory. The cryptocurrency is currently testing critical support at $130 while eyeing a potential breakout above the $144 resistance level.

Recent price data shows Solana experienced major volatility earlier this month after seeing liquidations at $100 in April 2025. The current price represents a recovery phase, with traders closely monitoring key price zones to determine future movement.

Glassnode data reveals that the largest concentration of SOL holders purchased tokens at $129.79, with more than 32 million SOL transacted at this price point. This massive accumulation could serve as a strong support level, potentially triggering rebounds if the market declines further.

#Solana’s URPD shows a major shift in cost basis over the past two days, forming the largest supply cluster (>5%) at $129.79 with over 32M $SOL. This zone could act as a support during future drawdowns, reflecting high investor engagement at this price level. pic.twitter.com/mrunKSjKZL
— glassnode (@glassnode) April 15, 2025

Janover’s Strategic SOL Acquisition

In a move reminiscent of Strategy’s (formerly MicroStrategy) Bitcoin buying approach, real estate company Janover announced the purchase of 80,567 Solana tokens worth $10.5 million on Tuesday. This marks Janover’s third major crypto purchase, bringing its total SOL holdings to 163,651 tokens valued at approximately $21 million.

Janover initiated its Solana purchases last week following an April 4 treasury policy shift that permits the company to acquire cryptocurrencies on a long-term basis. This makes Janover the first publicly traded US company to adopt a treasury strategy primarily focused on Solana.

The company’s stock price has seen a dramatic increase of over 1700% since authorizing its new treasury policy. Janover plans to stake its newly acquired SOL immediately to generate revenue while supporting the Solana network.

Institutional Partnerships and Adoption

Janover has formed a partnership with cryptocurrency exchange Kraken through a non-binding Letter of Intent. Under this arrangement, Kraken will delegate a portion of its existing and future staked SOL to validators operated by Janover.

The partnership comes after former Kraken executives acquired majority shares in Janover earlier this month. Joseph Onorati, previously Kraken’s chief strategy officer, now serves as Janover’s chairman and CEO. Parker White, formerly Kraken’s engineering director, has taken on the role of chief investment officer and chief operating officer at Janover.

This institutional involvement coincides with the April 16, 2025 launch of Canada’s first spot Solana ETFs, which has fueled market speculation about potential price increases. These developments point to growing institutional adoption that could boost market demand for SOL.

Janover’s buying pressure helps explain why Solana has outperformed Bitcoin, Ethereum, and XRP in the past week. While SOL gained over 20% in the weekly timeframe, BTC, ETH, and XRP rose by 10%, 11%, and 17% respectively during the same period.

Market analysts are projecting that Solana’s price could move toward the $170 to $180 range if it holds above crucial support levels. Some experts believe institutional adoption could eventually push the price to $200.

However, other analysts suggest the most likely short-term scenario is consolidation between $125-$135. This price zone has seen the highest recent transaction volume, making it a relatively stable area for trading.

Traders and investors continue to watch for a potential breakout above the $144 resistance level, which could trigger further price appreciation. Conversely, failure to maintain support at $130 could lead to downward movement.

The crypto community has expressed confidence in Solana’s long-term potential, focusing on key price levels at $130, $144, and $200. Market participants are advised to monitor Solana price charts, technical indicators, and the ongoing adoption of Solana-based investment products by institutions.

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