Solana Steadies Near $200 on ETF Anticipation and Reported $400 Million Crypto.com Treasury
Roughly $2 billion in short positions sets the stage for an outsized move on any catalyst.
Overview
- Market commentators say spot and staking SOL ETFs could win approval within weeks, though no decision has been announced.
- Brave New Coin reports Crypto.com established a $400 million Solana treasury with STSS, a move viewed as deepening liquidity.
- Price structure shows higher lows around $200–$206 with resistance highlighted near $214–$230 and key support around $183.
- Positioning data cited in the coverage points to about $2 billion in shorts that could be forced to cover if inflows arrive.
- Reported institutional activity includes a $16.2 million single-day allocation from REXShares and a $10.5 million Osprey-linked purchase.