SOL Price Climbs as Solana Partner SBI Holdings Acquires Coinhako
Solana (SOL) price climbed to $74.85, slightly trailing Bitcoin’s 1.69% gain, primarily driven by a modest beta move relative to the broader market.
SOL price inched higher as Japanese financial conglomerate SBI Holdings acquired a majority stake in Singapore-based exchange Coinhako on Friday, following regulatory approval from the Monetary Authority of Singapore.
This move expands SBI’s digital asset footprint in Southeast Asia. SBI has existing partnerships with the Solana Foundation and Ondo Finance to support Japan’s on-chain financial market.
This is bullish for Solana because it signals continued institutional validation and integration within a major traditional finance group’s expanding digital asset corridor.
SBI’s strategy to leverage Coinhako for tokenisation and cross-border services could drive more activity and capital toward its partnered networks, including Solana, analysts said.
The token price move is also supported by the broader market improvement with mixed macro drivers: positive sentiment from cooling U.S. CPI data was offset by rising Treasury yields and geopolitical tensions, leading to a cautious, range-bound session.
SOL’s price action was not driven by unique news but by its correlation with Bitcoin’s direction in a low-conviction market. Bitcoin’s ability to hold above $63,000 will likely dictate SOL’s near-term trajectory.
Despite the muted price action, Solana’s fundamentals remained strong. It led all chains in DEX volume with $1.55 billion in the last 24 hours.
Furthermore, USDC issuance on the network is growing, and the ecosystem has attracted $900M in real-world asset (RWA) inflows over 30 days, signalling robust demand for block space.
Strong utility and developer activity are providing a fundamental floor, preventing deeper declines even when speculative interest is low.
Technically, SOL is testing a critical support zone at $74. The immediate resistance is at $76.50, coinciding with the upper Bollinger Band.
A key upcoming catalyst is the “Alpenglow” consensus initiative, which aims to reduce transaction finality to 150 milliseconds by late August 2026.
If buying volume returns and SOL reclaims $76.50, it could trigger short covering toward $78–$80. Conversely, a decisive break below $74 support would likely target the daily Supertrend support near $69.60.
The coin is at a technical inflexion point, with the next major move likely dictated by whether it can attract spot buying to overcome overhead resistance. A sustained close above $76.50 or below $74 will confirm the next directional bias.
Solana’s minor gain reflects a market in consolidation, caught between strong on-chain utility and a lack of immediate bullish catalysts. Its path is currently tied to Bitcoin’s performance and its own ability to defend key technical levels. SOL Dips Amid SBI, Solana JV for Japan On-Chain Financial Market
