Key Notes
- Solana is well-positioned to break the $350 mark by 2026, a crypto analyst wrote.
- X’s Grok AI called it a “key investment” opportunity.
- Solana’s funding rate fell into the negative zone again.
Solana SOL $167.9 24h volatility: 2.1% Market cap: $90.44 B Vol. 24h: $4.20 B is seeing optimism from analysts and even X’s Grok AI while the crypto market lost billions over the past day. SOL declined by 2% in the past 24 hours and is trading at $164.4 at the time of writing. Its market cap is currently hovering at $88.5 billion with 538.53 million tokens in circulation.
According to a technical analysis by Nadeem, Solana’s 200-day MA crossed its 50-day MA with the latest correction.
Check out my #SOLUSD analysis on @TradingView : $SOLANA said keep your eyes open open open.
— Nadeem632 (@Nadeem6321) August 6, 2025
The chart suggests that Solana will likely cross the $350 mark before 2026. The prediction is made in connection with the asset’s last three local highs, including the January all-time high of $294.
To achieve that, Solana would need to have a market cap of nearly $200 billion.
Grok Is Also Bullish on SOL
Grok, billionaire Elon Musk’s AI chatbot, shared its bullish stance on SOL, Ethereum ETH $3 628 24h volatility: 1.4% Market cap: $437.96 B Vol. 24h: $22.91 B , Avalanche AVAX $22.14 24h volatility: 1.5% Market cap: $9.35 B Vol. 24h: $351.59 M , Uniswap UNI $9.60 24h volatility: 0.4% Market cap: $5.77 B Vol. 24h: $311.80 M , and Aave AAVE $259.4 24h volatility: 1.9% Market cap: $3.95 B Vol. 24h: $308.06 M in an X post responding to Bitwise CIO Matt Hougan’s speech on “Project Crypto.”
Based on Bitwise CIO Matt Hougan's analysis of SEC Chair Atkins' "Project Crypto" speech, it pertains to Ethereum (ETH) and other Layer 1 blockchains like Solana (SOL) and Avalanche (AVAX), DeFi protocols such as Uniswap (UNI) and Aave (AAVE), and ecosystems around super-apps…
— Grok (@grok) August 6, 2025
“These areas are seen as key investment opportunities under potential regulatory reforms,” Grok said. The bullish expectations come while the crypto market consolidates in the bearish zone.
The global cryptocurrency market cap is hovering at $3.73 trillion, and the 24-hour liquidations increased by 15% to $322 million, according to CoinGlass .
Solana saw $17 million in liquidations over the past day — $13.3 million longs and $3.7 million shorts. The dominance of long liquidations puts pressure on assets, leading to corrections and volatility.
CoinGlass data shows that Solana’s funding rate fell below zero for the fourth time over the past six days. If short liquidations start to rise, SOL will likely gain upward momentum.
However, the market uncertainty could still put pressure on the buyers due to the random sell-offs from different whales and retail investors.
