Share this article
SOL Slips Below $144 Even as Sol Strategies Eyes Nasdaq to Deepen Its Bet
SOL fell below $144 despite bullish institutional headlines, as Sol Strategies filed to list on Nasdaq while holding over $61 million worth of SOL tokens.
Updated Jun 19, 2025, 3:46 p.m. Published Jun 19, 2025, 3:43 p.m.
Make us preferred on Google
What to know:
- Solana (SOL) fell 1.21% to $143.38 after losing momentum above $147.80, ending near session lows despite strong institutional support.
- Canadian firm Sol Strategies filed with the SEC on June 18 to list on Nasdaq under the ticker STKE, aiming to fund its Solana ecosystem strategy.
- The firm holds more than 420,000 SOL, valued at over $61 million, but price action shows bears remain in control near critical support levels.
Solana’s native token, SOL , dropped to $143.38 Tuesday, down 1.21%, closing near the day’s low after failing to hold above $147, according to CoinDesk Research's technical analysis model.
The weakness came even as the ecosystem drew fresh institutional backing: Canadian blockchain investor Sol Strategies filed with the U.S. Securities and Exchange Commission on June 18 to pursue a Nasdaq listing under the ticker STKE.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
While the filing itself is not an immediate market mover, it highlights a growing institutional commitment to Solana’s long-term outlook. Sol Strategies disclosed earlier this month that it holds more than 420,000 SOL, worth over $61 million, and has made SOL the centerpiece of its treasury strategy. The firm is also seeking regulatory approval in Canada to raise up to $1 billion, in addition to an earlier $500 million convertible note issuance in April used to acquire and stake SOL.
Despite these bullish signals, SOL continues to trade defensively. Price action has been confined to a horizontal band for much of the past week, with the most recent breakout attempt above $147.80 failing to generate follow-through. Bears regained control during the final hours of trading, pushing SOL below the $144 psychological support. With price trending below major moving averages and volume tapering off mid-session, sentiment remains fragile even as long-term backing intensifies.
Technical Analysis Highlights
- SOL traded in a 24-hour range from $143.23 to $147.80, a 2.83% swing.
- Resistance held at $147.80 after a failed breakout during the 22:00 UTC candle on June 18.
- Price declined steadily to $143.38, closing near the low after weak recovery attempts.
- Sellers were active between 13:46–14:00 UTC, with a drop from $144.62 to $143.38 on strong downside momentum.
- The $144–$145 zone remains critical; failure to reclaim it may open a path toward deeper support near $140.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here is why investors are snubbing Michael Saylor’s 10% dividend offer in Europe
Access and market structure issues limit adoption of Strategy’s first non U.S. perpetual preferred, Stream.
What to know:
- Stream (STRE) is Strategy’s euro-denominated perpetual preferred stock, positioned as a European counterpart to the firm’s high-yield preferred Stretch (STRC).
- Khing Oei, founder and CEO of Treasury, says adoption has been constrained by poor accessibility and opaque price discovery.
Top Stories
