Coinbase Achieves Significant Milestone with Solana – Will May Futures Trading Lead to a New All-Time High for SOL?

The price of Solana has increased by 1.5% at this moment, reaching $171 as Coinbase initiates the offering of CFTC-regulated SOL futures to traders.

Despite this, SOL remains down by 13% weekly and 35% monthly; however, Coinbase’s announcement has propelled it from a 24-hour low of $161, which indicated a potentially significant resistance level for the cryptocurrency.

With Solana still up by 53% over the year, it retains long-term momentum that, coupled with an expansion in futures trading, could lead to a very favorable long-term price outlook.

Coinbase Makes Significant Moves on Solana – Could Futures Trading Lead to a New ATH for SOL?

In a blog post released yesterday, Coinbase highlighted that it is targeting its CFTC-regulated Solana futures product at institutional investors, as well as more experienced and professional traders.

It noted that Solana and Hedera (HBAR) – which is also set to receive its own futures product – provide “distinctive advantages that make them appealing to both institutional and retail traders.”

Coinbase Derivatives, LLC is advancing the maturation of crypto futures in the U.S. by offering CFTC-regulated $SOL and $HBAR futures contracts.

— Coinbase (@coinbase) February 18, 2025

This is significant because if institutions opt for Coinbase’s SOL futures on a large scale, it could have a considerable effect on Solana and its price.

This potential helps clarify why Solana has outperformed the broader market today, with average prices actually declining by 1% over the past 24 hours.

The increase also partially addresses the negativity SOL has encountered as it nears March 1, when the FTX assets will unlock approximately $2.2 billion in Solana.

On its chart today, we observe that it has started to rise again after hitting a low over the last few days.

Source: TradingView

Most notably, its 30-period average (orange) has leveled off, and it now appears poised to begin an upward movement toward the 200-period average (blue), taking SOL’s price along with it.

Similarly, Solana’s relative strength index (purple), which struggled to break out of the oversold 20-30 range at the beginning of the week, has now climbed back above 50.

This indicates rising momentum, with buyers returning to the coin after it became significantly undervalued.

Indeed, we are witnessing whales starting to accumulate the coin again, with one newly created wallet withdrawing $14.8 million in Solana from Binance and staking it over the past two days.

A newly created wallet withdrew 87,328 $SOL ($14.8M) from #Binance in the past 2 days and staked it. https://t.co/ZzuUdAC6W8 pic.twitter.com/HUBZKTKgvn

— Lookonchain (@lookonchain) February 19, 2025

Based on this renewed momentum, we can expect Solana to reach $200 by the end of Q1, potentially hitting $275 and even $300 by H2.

Maximize Gains with Diversified High-Potential Altcoins

Solana remains one of the strongest major tokens in the market, but its recent declines and the prospect of a significant unlock may deter some investors.

Instead, they might consider exploring newer tokens for market-beating rallies, with several presale coins gaining considerable traction at the moment.

One such token is Solaxy (SOLX), a new layer-two network for Solana that has raised an impressive $22.2 million in its ongoing sale.

As Solana’s first fully developed L2, it will help traders avoid failed transactions, network congestion, and outages, which continue to be recurring issues for Solana, even after significant upgrades.

It will also facilitate instant bridging between Solana and several other chains, which may help it become a major hub for meme coins over time.

There is limited time remaining before the SOLX presale concludes, but latecomers can still participate by visiting the official Solaxy website.

SOLX is currently priced at $0.00164, but this price will increase every few days until the ICO concludes, so traders should act swiftly.

The post Coinbase Makes Significant Moves on Solana – Could Futures Trading Lead to a New ATH for SOL? appeared first on Cryptonews.