Solana on May 23, 2025: Bullish Momentum with New Partnerships

Solana exhibits bullish momentum with new partnerships and DeFi growth.

On May 23, 2025, Solana (SOL) experienced significant developments in the crypto market, signaling strong growth potential for this cryptocurrency. Trading at around $178, Solana showed relative stability after a 23% surge over the past month. This growth was largely driven by new DeFi partnerships and the announcement of the Alpenglow upgrade, which captured investor attention. Solana has strengthened its position in the DeFi space through partnerships, such as its collaboration with R3 to bring real-world assets (RWAs) to its blockchain and Centrifuge’s expansion of tokenized asset services, including a $400 million U.S. Treasury fund. These partnerships have boosted liquidity and enhanced Solana’s institutional adoption. Reports indicate that Solana’s application revenue reached $1.2 billion in Q1 2025, reflecting 20% growth. The Alpenglow upgrade, introduced by the Anza team, replaces Proof of History with a new consensus mechanism, reducing transaction finality time to 100–150 milliseconds. This improvement has positioned Solana as one of the fastest layer-1 blockchains, increasing its appeal to developers and investors. From a technical perspective, Solana has maintained key support at $160, and an “ascending triangle” pattern on the daily chart suggests potential for a breakout toward $200. Analysts believe that breaking the $183 resistance could drive prices toward $300 by late 2025. However, risks such as the SEC’s delay in approving a Solana ETF, now postponed to October 2025, and market volatility persist. Some analysts warn that a failure to hold the $160 support could lead to a drop to $141. Nonetheless, the DeFi ecosystem’s growth, increased trading volume on private DEXs, and the introduction of the Seeker device with the SKR token create a positive outlook for Solana. Investors should monitor developments closely and exercise caution.