Solana Rises as South Korean KSNET Brings Solana Pay to Asia
Solana (SOL) price edged higher to $73.38 after South Korean fintech company KSNET integrated Solana Pay into its network, driving investor optimism.
KSNET, a South Korean payment processor with $4 billion in monthly transaction volume, announced a partnership deal to bring Solana Pay to its network of over 330,000 merchants.
The fintech company and the Solana Foundation inked a memorandum of understanding on July 30, setting the stage for one of the largest real-world crypto payment integrations in Asia.
KSNET processes approximately 130 million transactions every month and has been in the payments business for 26 years.
The agreement brings together KSNet’s domestic payment network and Solana’s blockchain infrastructure as both companies evaluate digital asset payments that can work alongside South Korea’s existing financial system.
Trading data showed that Solana’s rise almost exactly mirrored Bitcoin’s 0.62% gain over the same period, indicating the move was driven by broad market beta rather than a Solana-specific catalyst.
Total crypto market cap edged up 0.50%, and trading volume fell sharply (-29.32%), pointing to low conviction and a lack of directional catalysts.
Traders said the primary driver was likely a modest, liquidity-driven flow into major crypto assets. Crypto analysts said Solana’s price action is currently tethered to Bitcoin’s movements. A decoupling from Bitcoin, which would signal a shift to coin-specific drivers.
Analysts added that a foundation of positive developments continues to underpin sentiment. This includes Morgan Stanley’s Solana ETF seeing $19.06 million in net inflows recently, MoneyGram operating a validator node, and the network’s recent compute-unit limit increase from 60M to 100M CUs.
Solana is testing a critical technical zone. Immediate resistance is the 50-day simple moving average at $74.9, with stronger resistance at the 100-day moving average near $75.8.
Technical traders said support is firm at $73.75; a daily close below this level could trigger a sell-off toward $70. The 24-hour volume decline of 3.91% suggests a lack of aggressive buying.
The near-term bias is neutral-to-cautious, with the price likely to oscillate between $73.75 and $74.9 until a catalyst emerges. The outcome of the ongoing community vote for a potential new exchange listing, which could act as a near-term catalyst.
Solana’s minor gain reflects a market in wait-and-see mode, closely following Bitcoin while anchored by its own steady ecosystem progress. The path of least resistance depends on reclaiming key moving averages. XRP Climbs after SBI Holdings Valued Stake in Ripple at $41.2bn
