TLDR
- Tether has integrated USDt and Tether Gold onto Solana through Legacy Mesh, providing access to $175 billion in cross-chain liquidity
- Solana leads all blockchains in daily app revenue with $4.83 million, beating Ethereum and Binance Smart Chain
- Analyst Ali Martinez predicts SOL could retest $260, while the price currently trades around $189-190
- Multiple Solana ETF filings are moving forward, including the world’s first spot Solana ETF launching in Hong Kong and a 21Shares filing with the SEC
- SOL is testing a key support zone at $180-190, with technical indicators showing potential for either a breakout above $300 or a drop to $170
Tether has brought its stablecoin USDt and Tether Gold to the Solana blockchain through the Legacy Mesh interoperability framework. This integration gives Solana users access to $175 billion in cross-chain liquidity.
The USDT0 bridge has already processed over $25 billion in volume across twelve different chains. Solana users can now use this liquidity for decentralized applications, payments, and institutional services like treasury management and collateralized lending.
Matt Hougan, Chief Investment Officer at Bitwise, stated that Solana could become the preferred network for banks conducting stablecoin transactions. The Tether integration supports this view alongside protocols like Splyce and Chintai that offer tokenized securities on the network.
“Solana is the new Wall Street” – @Matt_Hougan, CIO @BitwiseInvest pic.twitter.com/gNfEu8Pbdr
— Solana (@solana) October 3, 2025
Revenue Leadership
Solana currently leads all blockchains in daily app revenue. Data shows Solana generated $4.83 million in the past 24 hours.
This puts Solana ahead of Binance Smart Chain at $3.85 million and Ethereum at $2.7 million. Hyperliquid L1 came in third at $2.97 million, while Base, edgeX, Arbitrum, and Polygon recorded lower totals.
The revenue figures show strong network activity and transaction demand on Solana compared to other major blockchains. Community members view this as a positive indicator for Solana’s market position.
SOL is currently trading around $189.45. Analyst Ali Martinez suggested the price could retest the $260 level based on current patterns.
Solana $SOL could be looking to retest $260! pic.twitter.com/UriEqCNiX4
— Ali (@ali_charts) October 16, 2025
Technical Analysis
The cryptocurrency is testing support around $180-190, a level that has held since late August. On the daily chart, the 20-day moving average has crossed below the 50-day moving average.
Market observers note this pattern can indicate short-term weakness. If SOL drops below $190, the next support level sits at $170, which was tested last week.
A move above $211 would shift the trend and open a path toward higher prices. Breaking through $300, the early-year all-time high, could trigger new price discovery with potential targets at $500 or higher.
The RSI is moving back toward the neutral line. The MACD histogram is converging on the signal line, which some traders interpret as building buy pressure.
ETF Developments
Hong Kong is launching the world’s first Solana spot ETF. Meanwhile, asset manager 21Shares filed a Form 8-A with the U.S. Securities and Exchange Commission.
These filings represent separate developments but both show growing institutional interest in Solana. ETF products could attract new capital by providing easier access to the asset for traditional investors.
Market participants believe approved ETFs could increase liquidity and attention for Solana. Some traders expect this to support long-term demand for the cryptocurrency.
Solana has been consolidating in a range for seven months, forming an ascending channel pattern. The current price action will determine whether SOL breaks out or continues ranging.
The $190 support level remains critical for short-term price direction. A move above $211 could shift momentum back to buyers, while a break below could lead to further downside testing.
Solana processed strong network activity and leads in app revenue among all blockchains while multiple ETF filings progress in Hong Kong and the United States.
