Solana Surges 11% to $75 as bitFlyer Lists SOL, WIZE Crosses 50,000 SOL

Solana News

bitFlyer, one of Japan’s largest Tokyo-based exchanges, has officially confirmed that it will open spot trading in Solana (SOL) on June 24. As an operator licensed under the strict oversight of Japan’s Financial Services Agency (FSA), the listing marks a notable milestone in Solana’s push into Asia’s regulated markets. bitFlyer pointed to Solana’s hybrid consensus model — combining Proof of Stake (PoS) with Proof of History (PoH) — as the source of its high throughput and low fees. With Japan pairing tough regulation with unusually high retail participation, the listing is widely expected to open a fresh channel of demand for SOL.

The picture is far less rosy at the other end of the ecosystem. Pump.fun, the meme-coin launchpad that fueled much of Solana’s explosive growth, is contracting sharply. Its graduation rate — the share of tokens that go on to a formal listing on decentralized finance venues such as Raydium — has collapsed to roughly 0.26%, a drop of more than 80% from three months ago. Monthly revenue has shriveled from about $4.8 million six months ago to around $800,000 as of June. The slowdown has rippled across the network: Solana’s average daily fee revenue has fallen more than fivefold, from a January peak near 33,000 SOL to about 5,300 SOL in June.

Over the same stretch, Solana-based security token offerings (STOs) tied to the equity of real operating companies have drawn attention as an early signal of structural change in private markets. Digital securities infrastructure firm FirstBlock, dental anesthesia technology company OnPharma, and UK investment bank Crypto Capital unveiled STOs backed by actual US-based businesses. The framework pairs atomic settlement with programmable ownership on the Solana blockchain, enabling direct on-chain trading through KYC-verified wallets and near-real-time settlement. The issuance follows Regulation S (Reg S) under US securities law, structured offshore for non-US investors.

Tokenized assets have emerged as Solana’s central narrative. Twenty-four-hour trading volume in tokenized stocks on the network hit an all-time high of $187.9 million, with Backpack’s tokenized SpaceX share, SPCX, accounting for more than half at over $105 million. Solana-based protocol Jito (JTO) jumped 23.38% to $0.7551. The newly approved T. Rowe Price active crypto ETF, trading under the ticker TKNZ, explicitly includes Solana alongside Bitcoin and Ethereum in its holdings basket. Ratings agency Moody’s has also begun assigning credit ratings directly to on-chain bonds in partnership with Alphaledger, further reinforcing the institutional-infrastructure story.

On price, Solana is testing direction around the $75 resistance band. It has rebounded more than 20% from its early-June low near $60, but the 20-day exponential moving average (EMA) is acting as immediate resistance in the $74–$75 zone. A clean break would open the door to $83.5, $90 and $98.3 in turn, while a rejection puts $71.8 and a retest of $60 back in play. Separately, the board of Solana Company unanimously rejected an all-stock takeover proposal from Forward Industries valued at $1.48 per share, saying it would stick to its independent, Solana-focused digital asset treasury strategy — a sign of intensifying institutional competition around major altcoins.

Longer-term optimism is building as well. One AI-driven analytics platform set a base-case target of $225–$375 for Solana by the end of 2026, citing an aggressive scenario reaching as high as $400–$1,000. The core thesis rests on the Firedancer and Alpenglow upgrades targeting more than 1 million transactions per second, plus institutional inflows via ETFs and stablecoin infrastructure. The downside risks are equally clear: Solana Labs and the foundation are named as defendants in a Pump.fun class-action suit, the network has a history of repeated outages, and SEC regulatory uncertainty remains. In the near term, whether SOL can hold above $80 is seen as the key inflection point.

As of 18:36 UTC, COINOTAG’s proprietary 42-indicator composite support-and-resistance scoring engine (data as of 18:34 UTC) rates the $74.75 resistance most strongly at 83/100, reflecting an overlap of the Fibonacci 0.382 level, the R1 pivot and the prior-day high. The $79.27 resistance scores 79/100 where Ichimoku Senkou Span B meets the top of the cloud, while $71.54 support (68/100) is underpinned by a bullish pin bar and the cloud’s lower edge. In derivatives, open interest stands at $1.54 billion, the long/short account ratio at 3.03 (75.2% long) and the funding rate at 0.0022%, confirming a crowded long bias. The Fear and Greed Index reads 22 (extreme fear). An RSI of 50.01 and a bullish MACD hint at room to recover, but losing $71.54 would validate a slide toward $60.13.