Solana DATs and the TradFi wave reinforce the belief that SOL could reach 300 USD

Solana (SOL) is under take profit pressure after reaching the 250 USD threshold, but analysts believe there is still ample room for it to rise to the 300 USD mark.

Last weekend, SOL recorded strong selling pressure when testing the 250 USD mark, yet over the past 30 days, this coin has still risen by 24% thanks to a boom in on-chain activity. This has sparked a lively debate in the market: is the current upward momentum sufficient to push SOL closer to 300 USD, especially when the Solana network has just regained its position as number one in trading volume on decentralized exchanges (DEX).

Market share of decentralized exchanges | Source: DefiLlamaIn September, Solana surpassed Ethereum to become the leading blockchain in the DEX sector, achieving a trading volume of 121.8 billion USD – 90% higher than BNB Chain. Dominating this sector is significant, as a large trading volume translates to higher fees, thereby driving the demand for reusing SOL in payments.

Ranking of blockchains by fees over 7 days, USD | Source: NansenData from Nansen shows that transaction fees on Solana have risen by 23% in just one week. This is a significant increase, especially when compared to Ethereum – which has a total value locked (TVL) nearly seven times larger but offers relatively limited benefits, as many applications like restaking or tokenizing real-world assets (RWA) have low revenue and not high fee efficiency.

Capital from corporate funds boosts demand for SOL

The demand for SOL is being strongly driven by a wave of capital allocation from corporate funds. Instead of relying solely on traditional channels, many companies have raised capital through issuing stocks or bonds, then redirected this cash flow into cryptocurrency investments.

Notably, Forward Industries (FORD) – a technology and medical design company – has successfully raised 1.65 billion USD from private investment channels and is using this massive capital to supplement SOL into reserves. Remarkably, FORD is backed by giants like Galaxy Digital (GLXY), Jump Crypto – both a market maker and a venture capital fund – and Multicoin Capital, an organization that placed early bets on Helium, Filecoin, Solana, and Polkadot.

At the same time, DeFi Development Corp – a fund specializing in managing reserves focused on Solana – revealed that it holds over 2 million SOL, with a total value exceeding 460 million USD.

Not stopping there, Pantera Capital – one of the leading blockchain asset managers – has just announced the launch of a new reserve management vehicle called Helius (HSDT), listed on Nasdaq and built on Solana. The initial private placement is valued at 500 million USD, co-led by Summer Capital, a licensed fund in Hong Kong, and has the potential to expand to over 1 billion USD, according to the press release.

New Step Forward: Solana – Base Bridge and Partnership with WLFI

Another potential driver for SOL comes from the proposal to build an open-source bridge between Solana and Base – the layer-2 solution of Ethereum developed by Coinbase. According to data from Nansen, in just the past 30 days, Base has recorded over 20 million active addresses. If implemented, this bridge would allow users to move assets cross-chain, creating a more “interconnected and cohesive” ecosystem, according to Jesse Pollak – the founder of Base.

Also on that day, the cryptocurrency project World Liberty Financial (WLFI) – backed by US President Donald Trump – announced a partnership with the memecoin platform Bonk.fun on Solana and the DEX exchange Raydium to launch a multi-million USD promotional package. The campaign focuses on stablecoin trading pairs USD1, in which the WLFI token is said to be fully backed by USD and cash-equivalent assets.

Source: EricTrump/XCombined with the strong expansion of on-chain activities, the trend of accumulating SOL from reserve funds, along with the appeal from the Base bridge and the WLFI campaign, many traders believe that the current context is creating momentum for SOL to continue breaking out. A rise to the 300 USD mark will bring Solana's market capitalization to about 163 billion USD – a figure that is still 70% lower than Ether's 543 billion USD – thus making this scenario feasible in the short term.

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