TLDR
- Gemini launched a Solana credit card offering up to 4% SOL token rewards on purchases and 6.77% staking returns
- SOL is trading at $194 after holding key support between $175-$186 through recent market volatility
- Trading volume has reached multi-month highs while futures open interest climbed above $8 billion
- Institutional treasuries hold over 20 million SOL tokens with ARK Invest reporting $223 million in Q3 network revenue
- Analysts target a potential rally to $250 if price breaks above the $202-$211 resistance zone
Gemini has launched a Solana edition of its crypto credit card. The card offers up to 4% back in SOL token rewards on every purchase.
🚨Gemini launches the first-ever #Solana credit card 💳
Users can now earn up to 4% back in $SOL, with automatic staking to grow rewards over time. ⚡️ https://t.co/hctUtqjYEe pic.twitter.com/OhV5SB4N3I— Solana Daily (@solana_daily) October 20, 2025
The New York-based exchange announced the product on October 20, 2025. Users can also stake their rewards to earn up to 6.77% returns.
This marks Gemini’s third branded crypto credit card. The exchange previously launched Bitcoin and XRP themed versions earlier in 2025.
Gemini stated that Solana was a logical choice given the network’s momentum and active developer community. The cards operate on the Mastercard network.
The credit card platform has become a growth driver for Gemini. Sign-ups increased from 8,000 to nearly 31,000 between August 2024 and August 2025, according to Mizuho analysts.
Gemini went public in September 2025. The listing was one of the year’s most watched public offerings in the crypto space.
Price Action and Technical Levels
SOL is currently trading near $194. The token is down from its all-time high of $293.
The price has held a critical support zone between $175 and $186. This level has attracted buyers since August and provided a floor during recent market weakness.
Traders are watching the $200 level as the next key test. A clean break above this price could shift short-term momentum.
The token is trading within a descending channel pattern. A move above $202-$211 would break this pattern and could open targets at $221-$222.
Further upside targets sit at $235 and $250. These levels represent the next resistance zones if bulls maintain control.
Trading Activity and Market Data
Trading volumes have surged to multi-month highs. This increase in activity suggests growing interest in the token.
Futures open interest has pushed above $8 billion. Higher open interest typically signals stronger market participation.
Spot flows turned positive recently. Net inflows reached $31.7 million, pointing to accumulation at current price levels.
Institutional Interest
Institutional and corporate treasuries hold over 20 million SOL tokens. This represents long-term commitment from major players in the digital asset space.
ARK Invest reported $223 million in Q3 network revenue for Solana. This ranks among the highest revenue figures in the blockchain industry.
Grayscale analysis highlights the network’s high throughput and low transaction fees. The expanding developer base continues to attract institutional attention.
Staking yields of around 7% annually provide additional incentive for holders. The network is also working on scaling initiatives like Firedancer to improve throughput.
A daily close above $202-$211 would validate a potential trend reversal. This price zone includes the 20 and 50-day exponential moving averages plus key Fibonacci levels.
