Solana (SOL) traded close to $76 on Aug. 18 after Cathie Wood‘s ARK Make investments purchased 7,115 shares of the 3iQ Solana Staking ETF, whereas an $83 goal remained conditional on a breakout.
Key Factors:
- ARK Make investments purchased 7,115 shares of the 3iQ Solana Staking ETF on Aug. 17, growing Wood’s publicity as broader ETF inflows stalled.
- SOL is testing $76 resistance, whereas the cited chart setup factors towards $83 if the token closes above that degree.
- Solana DeFi TVL has fallen to $4.85 billion as stablecoin worth and community liquidity additionally declined.
Cathie Wood ETF
ARK Make investments added 7,115 shares of the 3iQ Solana Staking ETF on Aug. 17, based on an ARK commerce tracker cited by CoinGape. The agency purchased 3,830 shares via ARKW and one other 3,285 via ARKF.
The acquisition got here as demand for Solana exchange-traded funds weakened, with SoSoValue knowledge exhibiting no new inflows since Aug. 12. Nevertheless, Solana ETFs recorded $10.26 million in web inflows in the course of the Aug. 10-14 week, the strongest weekly outcome cited within the report.
SOL rose about 0.98% to $76 as buying and selling quantity elevated 25% to roughly $1.38 billion.
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Solana Worth Setup
CoinGape market analyst Muthoni Mary recognized a cup-and-handle sample on the day by day chart, with $76 appearing as the extent SOL must clear on a closing foundation. A confirmed transfer above resistance may open an 8.9% advance towards $83, whereas a relative energy index studying of 53 pointed to modest bullish momentum.
The resistance has repeatedly held. SOL had not closed above $76 since Jul. 20, and one other failed try may ship the token towards the decrease Bollinger Band close to $72 earlier than patrons attempt once more.
DeFiLlama knowledge confirmed TVL measured in SOL falling from 75 million on Jun. 7 to 63.84 million, whereas whole DeFi TVL throughout blockchains dropped from $114 billion to $75 billion.
The broader decline reveals Solana was not alone in dropping locked capital.
Earlier this summer season, Solana carried extra dollar-denominated liquidity, with TVL at $8.19 billion and stablecoin market capitalization reaching $16.4 billion on Jul. 25. By Aug. 18, these figures had fallen to $4.85 billion and $15.3 billion, framing the most recent $76 worth check in opposition to a weaker on-chain base.
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Enterprise Analyst at Yellow, protecting buying and selling mechanics, agentic infrastructure, and market analysis on the crypto change stack. Seven years in web3 throughout DAO platforms, launchpads, and tokenomics design. Writes for individuals who need the numbers behind the narrative.
