MoneyGram Joins Solana as Validator, Toss Bank Signs MOU as SOL Holds $73

Solana News

Solana posted a record week for tokenized equities, with on-chain volume reaching $1.29 billion and the network capturing roughly 95% of all such activity across chains on its own. The launch of SPCX, a token tied to SpaceX’s public offering, was the single biggest driver of that surge. Over the same stretch Solana out-earned Ethereum, Hyperliquid and Base on application revenue, pulling in $21 million for the week and $82.84 million over the trailing month. Even so, SOL continues to trade more than 75% below its all-time high (ATH) of around $295.

Toss Bank, one of South Korea’s leading digital lenders, signed a strategic memorandum of understanding with the Solana Foundation in Seoul on 19 June to pilot global money transfers and stablecoin-based payment rails. The bank framed it as the first one-to-one strategic tie-up between an internet-only bank in the country and the Solana Foundation. The agreement does not yet amount to a live product — customers cannot send money abroad over Solana for now. The trial will assess the network’s transaction speed, settlement design and the role of stablecoins in cross-border transfers.

Cross-border payments giant MoneyGram widened its blockchain strategy, announcing it has begun running a validator node on Solana. The role lets the firm help confirm transactions and harden network security while also joining the Solana Developer Platform. Chief Executive Anthony Soohoo said the company has spent the past several years embedding blockchain into its payment stack, and that every new service it builds now sits on that foundation. The move follows MoneyGram’s recent launch of the MGUSD stablecoin on Stellar through its Bridge partnership under Stripe. Rather than tie digital payments to a single network, the firm is scaling across Solana, Stellar and other rails in a multi-chain fashion.

Toss Bank’s work with Solana is, at its core, a proof of concept — a limited test of whether the technology performs in a specific scenario. The bank plans a phased rollout: international transfers first, followed by payment solutions and potential tokenization use cases. Traditional remittance systems are often slow, costly and dependent on intermediaries, whereas blockchain-based alternatives claim near-instant or very rapid settlement. Retail crypto appetite runs strong in South Korea, but banks remain cautious on digital assets, making this trial a careful yet meaningful step on the banking side.

On price, analysts are split over the bottom and the direction. One analyst, working under the handle Crypto Curb, reads SOL’s squeeze since 2024 as a continuation pattern rather than a trend reversal, arguing that an upside break of the broad bull flag on the weekly chart could put a $1,000 target back in play. Another analyst, EliZ, counters that price is drifting in the middle of a wide band and that no strong bullish signal forms until the $82 to $90 zone is reclaimed for good. On the downside, the $45 to $50 region is being watched as the most attractive altcoin area for long-term accumulation.

In the near-term technical picture, the $74 to $75 band stands out as critical resistance. Analyst Ali Martinez noted that after a buy signal from the TD Sequential indicator, SOL climbed from $68.46 to $74.27 for an 8.40% gain, but a touch of $74.65 triggered a sell signal on the 4-hour chart. That area also sits close to the 200-day simple moving average near $75. If resistance holds, first support is seen at $71, then $68. The upper Bollinger Band sits at $76.27 and the middle band at $68.97; holding above the middle band suggests the short-term structure has not fully broken down.

According to COINOTAG’s 42-indicator composite support/resistance scoring engine (as of 09:53 UTC), SOL slipped 6.44% over the past 24 hours to $69.02. The engine scores the $79.30 resistance as the strongest threshold at 74/100, a reading fed by a convergence of the SMA 50, Fibonacci 0.500 and Ichimoku Senkou B. The $65.82 support earns 71/100 from the overlap of S2, Fibonacci 0.114 and the latest swing low. On the derivatives side, the funding rate sits at -0.012%, open interest at $1.6 billion and the long/short ratio at 3.40 (77.3% long); that crowded long positioning carries a risk of staggered liquidation under downside pressure. The Fear and Greed Index reads 23, in extreme-fear territory; an RSI of 41.71 and a bullish MACD crossover offer a base for recovery, but a loss of $65.82 would invalidate the bull case.