Solana News Today: SOL Rebounds After Crypto Crash, Up 1.42% and Outperforms BTC, ETH

Key Takeaways:SOL rises 1.42% over the past 24h, outperforming Bitcoin and EthereumWhale wallets accumulate 4.2M SOL, reinforcing high-conviction investor interestSOL treasury firms hold 2.46% of supply, backing long-term growth thesis Solana Price Climbs Past $200 on Positive DevelopmentsSOL climbed over 1.42% in the last 24 hours, hovering at $195 at the time of writing and leading the broader crypto market in a recovery. A bullish breakout from the $172 support zone marked a strong rebound following last week's sharp correction. The move coincides with the announcement of a KRW stablecoin partnership, institutional wallet inflows, and technical indicators flashing recovery momentum. Korean Stablecoin Deal Boosts Institutional UtilityThe Solana Foundation announced a strategic partnership with South Korea’s Wavebridge to launch a Korean won (KRW) stablecoin, designed for compliance and institutional adoption. The initiative will integrate with Korean regulatory frameworks and aims to power cross-border settlements, leveraging Wavebridge’s $2 billion+ monthly crypto flows.This move expands Solana’s real-world financial use cases in Asia’s third-largest economy and may increase network utility. According to ARK Invest, stablecoin activity already accounts for 37% of Solana’s $223M Q3 revenue. Whale Accumulation Signals Confidence Despite Broader LiquidationsWhile the broader crypto market witnessed $624M in liquidations, Solana saw net inflows.Key data includes:Whale wallets added 4.2 million SOL (~$823M) since October 10.Exchange outflows totaled $27M, indicating a shift toward self-custody.These flows suggest strategic accumulation amid broader ETF outflows ($755M in Bitcoin and Ethereum exits on October 13), with whales treating the recent correction as a discount opportunity. However, concentration risk remains, with the top 10 wallets holding 33% of the SOL supply. Technical Indicators and Treasury Activity Support Bullish ThesisFrom a technical perspective, SOL held its 200-day EMA at $186.68, signaling strong support.The RSI (43.47) shows room for further upside. Analysts now eye the $208 and $225 resistance levels, with a potential target of $250 if the breakout holds.Source: TradingViewSource: TradingViewMeanwhile, Solana treasury companies (DATs) are becoming a structural pillar for the token. Over the past 30 days, 6.3 million SOL—over 1.6% of supply—has been accumulated by publicly traded firms.Key points:DATs now hold 2.46% of SOL supply, worth nearly $3 billion.Top holders include Forward Industries (1.249%) and DeFi Development Corp.With no Solana ETFs yet on the market, DATs serve as a proxy investment vehicle, offering yield-generation and flexibility not seen in passive ETF structures. What’s Next for Solana: Key Levels to WatchLooking ahead, traders are watching for a confirmed breakout above the $208–$225 resistance zone. If successful, SOL could aim for $250 and beyond, potentially reclaiming its $300 all-time high. However, failure to hold $199–$190 support may trigger short-term pullbacks.