Liquidity and adoption are strengthening Solana's position in both decentralized and traditional finance

Despite recent price fluctuations, Solana's network growth is accelerating, with its DeFi ecosystem showing remarkable strength.

Solana is setting up for major price swings, with the latest Harmonic Pattern analysis from a chart expert, Coinvo, pinpointing key reversal zones. The chart suggests that the Solana price can see short-term dips, but despite that, sellers are now running out of steam.

Solana’s DeFi ecosystem has been showing remarkable strength, with multiple Solana-based protocols now surpassing $1 billion in Total Value Locked (TVL).

As reported by the crypto analyst, known on X as Crypto_Rand, Jito has hit $2.04 billion TVL, highlighting the rapid adoption of liquid staking on Solana.

Jito and Kamino Finance are now both over $1B TVL. Liquid staking is exploding on Solana. From DeFi protocols to institutional interest, the signs are converging.

Jito and Kamino Finance are now both over $1B TVL.

Liquid staking is exploding on Solana. From DeFi protocols to institutional interest, the signs are converging. pic.twitter.com/nQ3D6rKz9v

— crypto_rand (@crypto_rand_) September 15, 2023

With DeFi protocols like Jito, Kamino Finance, and Marinade Finance all seeing significant capital inflows, Solana’s role in decentralized finance is becoming increasingly apparent.

Moreover, U.S. institutions are showing interest in Solana’s staking ecosystem, as hinted by Marinade Finance, which is developing a non-custodial and compliant staking solution designed for institutional investors. This move could be pivotal in boosting Solana’s liquidity, enhancing network security, and attracting a new wave of capital.

If U.S. institutions are looking for a non-custodial and compliant liquid staking solution for Solana, we've already built it: https://t.co/a9Yc7P9q6y

This is Marinade DeFi, where liquidity, security, and scalability converge to unlock new possibilities for institutional participation in the Solana ecosystem.

— Marinade Finance (@MarinadeFinance) September 13, 2023

This development comes as the Solana price tests the $124-$125 support zone for the fifth time. According to renowned analyst ali_charts, the more a level is tested, the weaker it becomes.

If SOL fails to hold above this key region, the next major support sits around $110, with a potential slide toward $80-$85 if selling pressure intensifies.

However, not everyone is bearish. Some analysts believe this could be a final shakeout before a major rally. If SOL defends $124 and bounces, we could see a move back toward $140-$150.

This could set the stage for a retest of the upper resistance near $210-$230. With strong developer activity and growing ecosystem strength, Solana’s long-term trajectory remains bullish, even if short-term volatility shakes out weak hands.

The post Solana Price: Key Support Holds As PayPal Integration Brings Massive Liquidity To SOL appeared first on Benzinga.

As Solana slides toward a crucial support level, new institutional interest and mainstream adoption could be pivoting the narrative. In the latest development, Sapna Singh reports that PayPal has officially integrated Solana. This move brings the potential to introduce millions of users to the Solana ecosystem.

Furthermore, U.S. institutions are showing interest in Solana’s staking ecosystem, as hinted by Marinade Finance, which is developing a non-custodial and compliant staking solution designed for institutional investors.

If this materializes, it could boost Solana’s liquidity, enhance network security, and attract a new wave of capital, making it a prime contender for long-term institutional adoption.

This integration arrives at a pivotal moment, as the Solana price tests a key support level that has historically resulted in moves of over 30%. A breach of this support could open the door for a deeper correction, while a successful defense might set the stage for a substantial rally.

The post Solana Price Analysis: Is A Major Breakout Imminent As PayPal Integration And U.S. Institutional Interest Heat Up? appeared first on Benzinga.

The Solana price has been hovering at a critical support level, hinting at a potential game-changing move. As the network’s liquidity and adoption continue to strengthen, analysts are closely watching to see if the heating up U.S. institutional interest will be enough to push the cryptocurrency higher.

Solana's DeFi Ecosystem Shows Strength Amid Price Fluctuations

Despite recent price fluctuations, Solana’s network growth is accelerating, and its DeFi ecosystem is showing remarkable strength.

Top analyst Crypto_Rand highlights that multiple Solana-based protocols have now surpassed $1 billion in Total Value Locked (TVL), a clear sign of increasing adoption and confidence in the network.

Leading the charge is Jito with $2.04 billion TVL, demonstrating that liquid staking on