Solana (SOL) is trading around $78.50, up about 3% for the session as the price holds above key moving averages, signaling continued momentum.

In the near term, SOL/USD is expected to range roughly between $77.21 and $80.57 over the next couple of days, suggesting sideways movement within a defined band.

A record $4.81 billion in non-USDC, non-USDT stablecoins is in circulation, underscoring intensified DeFi activity, with two alternative stablecoins exceeding $1 billion.

Momentum is shifting upward due to favorable technicals and renewed institutional interest, while earlier access gains and ongoing ecosystem development remain in play.

A $1.65 million exploit targeting a Solana-linked cross-chain bridge highlights ongoing security risks, even as on-chain engagement stays strong.

Localized selling pressure has emerged from Pump.fun token sales, but Solana continues to lead in real-world asset tokenization and broader ecosystem utility.

Circle added $500 million in USDC on Solana, boosting stablecoin liquidity for trading and DeFi activity.

Grayscale has updated its filing for a Solana staking ETF, signaling growing institutional interest and potential periodic staking rewards to shareholders, though no SEC approval yet.

Overall, rising on-chain activity, record stablecoin supply, and growing institutional interest point to a bullish near-term bias, tempered by potential short-term consolidation.

Market attention is on the upcoming Alpenglow upgrade, expected in late August, which aims to reduce confirmation delays and improve finality for high-volume use cases.

Solana recorded about $1.55 billion in 24-hour DEX volume, outpacing other major chains and signaling strong on-chain trading activity beyond futures.

Technicals show SOL above the 20- and 50-day moving averages but still below the 200-day, with support around $75.54 (Ichimoku Kijun) and a mixed momentum setup (MACD bullish, ADX indecisive).