Kyrgyzstan’s parliament has approved a new bill to regulate the country’s 
booming virtual asset sector, which has seen over $11.4 billion in 
transactions in the first seven months of 2025. Key Provisions and Economic 
Modernization The parliament of Kyrgyzstan has approved a bill on virtual 
assets, a move signaling the country’s push into state-backed cryptocurrency 
[…]

State-Run Mining and Regulatory Sandboxes: What’s in Kyrgyzstan’s New Crypto Law?

Solana started a fresh increase above the $220 zone. SOL price is now 
consolidating above $215 and might aim for more gains above the $225 zone. SOL 
price started a fresh upward move above the $212 and $215 levels against the 
US Dollar. The price is now trading above $215 and the 100-hourly simple 
moving average. There is a bullish trend line forming with support at $222 on 
the hourly chart of the SOL/USD pair (data source from Kraken). The pair could 
extend gains if it clears the $225 resistance zone. Solana Price Eyes More 
Gains Solana price started a decent increase after it found support near the 
$205 zone, beating Bitcoin and Ethereum. SOL climbed above the $212 level to 
enter a short-term positive zone. The price even smashed the $218 resistance. 
The bulls were able to push the price above the $220 barrier. A high was 
formed at $226 and the price is consolidating gains above the 23.6% Fib 
retracement level of the upward move from the $199 swing low to the $226 high. 
Solana is now trading above $215 and the 100-hourly simple moving average. 
There is also a bullish trend line forming with support at $222 on the hourly 
chart of the SOL/USD pair. On the upside, the price is facing resistance near 
the $225 level. The next major resistance is near the $232 level. The main 
resistance could be $235. A successful close above the $235 resistance zone 
could set the pace for another steady increase. The next key resistance is 
$245. Any more gains might send the price toward the $250 level. Downside 
Correction In SOL? If SOL fails to rise above the $225 resistance, it could 
start another decline. Initial support on the downside is near the $222 zone 
and the trend line. The first major support is near the $212 level or the 50% 
Fib retracement level of the upward move from the $199 swing low to the $226 
high. A break below the $212 level might send the price toward the $205 
support zone. If there is a close below the $205 support, the price could 
decline toward the $200 support in the near term. Technical Indicators Hourly 
MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours 
RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. 
Major Support Levels – $222 and $212. Major Resistance Levels – $225 and $235.

Solana (SOL) Pushes Higher – Is More Upside Still Ahead?

As Solana (SOL) taps the $225 barrier, Bitwise’s CIO forecasted that a bullish 
Q4 rally might be brewing for the altcoin if it follows Bitcoin (BTC) and 
Ethereum’s (ETH) recipe. Related Reading: Bitcoin Breakdown Averted? Analyst 
Says This Level Will Determine BTC’s Fate Solana To Follow BTC, ETH’s Recipe? 
On Tuesday, Matt Hougan, CIO at Bitwise, affirmed in a new memo to clients 
that the recipe for strong returns has been clear over the past 18 months: 
“Take one part ETP inflows, add strong corporate treasury purchases, and 
voilà—you get big returns.” Hougan explained that BTC followed this recipe 
since January 2024, while ETH discovered the same formula in April 2025. “It’s 
no surprise that the recipe works. It’s classic supply and demand,” he stated, 
adding that “all the ingredients are there for an epic end-of-year run for 
Solana.” As the CIO highlighted, multiple issuers, including Bitwise, 
Grayscale, and VanEck, have filed to launch spot SOL exchange-traded products 
(ETPs), which are expected to be approved at the start of Q4. As reported by 
NewsBTC, the US Securities and Exchange Commission (SEC) announced last month 
that it had pushed back its decision on Bitwise, 21Shares, VanEck, Grayscale, 
and Canary Capital’s spot SOL exchange-traded funds (ETFs) for two months, 
pushing it to October 16, 2025, “meaning we may have multiple issuers pushing 
spot Solana ETPs in Q4.” Meanwhile, three major firms, Galaxy Digital, Jump 
Crypto, and Multicoin Capital, recently secured $1.65 billion in cash and 
stablecoins to launch a publicly traded SOL-focused treasury company, Forward 
Industries, to purchase SOL, stake it, and generate excess return. Hougan also 
noted that Forward Industries named Kyle Samani, who has been among the 
cryptocurrency’s most consistent promoters, as chairman. To Bitwise’s CIO, if 
Samani can “carry the Solana message” like Michael Saylor and Tom Lee have 
done with Bitcoin and Ethereum, it will help drive investor demand. SOL’s 
Secret Ingredient Hougan pointed out that the existence of ETPs and treasury 
companies does not guarantee demand, adding that there must be fundamental 
reasons for investors’ interest in those vehicles. “Solana is an Ethereum 
competitor,” he asserted, “it’s a programmable blockchain designed to host 
stablecoins, tokenized assets, and decentralized finance applications, among 
other things.” The blockchain recently approved a major technical upgrade that 
will make it one of the fastest networks in the world. Additionally, it is 
also third in stablecoin liquidity among programmable blockchains and fourth 
in tokenized assets, recording rapid growth in this sector. Nonetheless, he 
argued that there’s a key difference between SOL and the two leading 
cryptocurrencies. While Bitcoin’s market capitalization sits around $2.2 
trillion, and Ethereum’s is near the $530 billion mark, Solana’s market 
capitalization is around $120.8 billion, 1/20th the size of BTC and less than 
1/4th the size of ETH. “Scaled for the size of the blockchain, a relatively 
small amount of flows into Solana could significantly impact prices,” Hougan 
explained. Related Reading: Worldcoin Jumps 42% Following Eightco’s 
Announcement Of First WLD Treasury Strategy He detailed that Forward 
Industries’ $1.6 billion purchase of SOL shares would be the equivalent of $33 
billion in BTC purchases, noting that this could be slightly offset by 
Solana’s higher annual inflation rate of 4.3%, versus Bitcoin’s 0.8% and 
Ethereum’s 0.5%. “The setup is still attractive,” he concluded, suggesting 
that investors keep their eyes on Solana in the coming months. As of this 
writing, Solana is trading at $222, a 5.1% increase in the weekly timeframe. 
Featured Image from Unsplash.com, Chart from TradingView.com

Solana Season Next? Bitwise CIO Eyes ‘Epic’ Q4 Run Fueled By Corporate Demand

The market has “already started voting” on the issue as Solana, Avalanche, and 
other chains have “gone sideways” against Bitcoin, a recent report says.

‘Fat apps’ could become a major narrative in a few months: Bitwise exec

Haseeb Qureshi has criticized Hyperliquid’s USDH stablecoin request for 
proposal process, calling it a “farce” and alleging it was tailored to favor 
Native Markets. Allegations of a ‘Backroom Deal’ A top executive at the crypto 
venture fund Dragonfly has labeled Hyperliquid’s USDH stablecoin request for 
proposal (RFP) a “farce,” claiming the process was designed to […]

Cryptocurrency price in UAH