Solana's native token, SOL, has surpassed the $180 resistance level on August 10, 2025, demonstrating resilience despite a significant outflow of approximately 8 million SOL tokens, valued at $1.4 billion, from staking protocols on August 9. Although this withdrawal initially created selling pressure, the market absorbed the supply, contributing to a notable 17% weekly price increase. Technical indicators, including a Relative Strength Index (RSI) of 57.12 and a MACD histogram reading of 0.0289, suggest neutral momentum with potential for further upward movement. The price is currently trading between the middle Bollinger Band of $177.56 and the upper band of $199.85.
Marinade Finance, a prominent liquid staking protocol, has been recognized for its role in institutional adoption, with Marinade Select named the exclusive staking provider for the proposed Canary Marinade Solana ETF. Marinade has supported over 10 million SOL, highlighting its contribution to the network's liquidity and staking infrastructure. However, Solana faces competitive challenges, as Coinbase's Layer 2 network, Base, surpassed Solana in daily token launches on August 3, driven by Zora's Creator Coins and substantial trading volume. While Base benefits from Ethereum ecosystem integration and retail accessibility, Solana leverages its high throughput and cost-efficiency for DeFi and NFT applications. Despite these pressures, Solana's ecosystem continues to expand, with its AI sector showing a 40% average gain across leading AI-linked tokens amid a 200% rise in ecosystem-wide engagement. Projects like Fartcoin and AI Rig Complex are utilizing Solana's network for AI-driven tools and decentralized data solutions, indicating continued innovation and market participation.