Solana Staking ETF Inflows Reach $306M Amid Price Decline

Solana Price and Institutional Demand

Solana's price found support at $218 after a 1.2% drop, reflecting the broader crypto market downturn due to investors moving towards gold following the Fed's rate cut.
Institutional demand remains strong, with REXShares' Solana Staking ETF (SSK) seeing $27 million in inflows, increasing total assets under management to $306 million.
Helius Medical Technologies invested $175 million in Solana as part of a $500 million treasury strategy, indicating ongoing institutional interest.

Technical Analysis and Price Forecast

Solana trades at $219.24, below the 20-day moving average of $226.98, indicating a short-term bearish trend.
The MACD line shows bearish momentum, suggesting potential for a corrective bounce to $227 if conditions improve.
Immediate support is at $218, with stronger protection around $200.
Bulls need to reclaim the 20-day MA at $227 to target September highs near $260.

Best Wallet Presale Amid Solana Demand

The surge in institutional demand for Solana also supports early-stage projects like Best Wallet (BEST), which offers multi-chain storage and institutional-grade security features.
The Best Wallet presale has raised over $16.05 million, with tokens available at $0.0256 each before the next price tier.