- The Solana price drives a steady uptrend under the formation of a rising wedge pattern.
- SOL Strategies announced that its shares have been approved for listing on the Nasdaq Global Select Market, with trading commencing on September 9, 2025.
- The momentum indicator RSI (Relative Strength Index) holding above the 50% mark indicates that the near term is bullish.
SOL, the native cryptocurrency of the Solana network, jumped over 4.5% during Friday’s Asian market hours. The buying pressure came as a relief rally and a recent announcement from SOL Strategies Inc. that it has received approval to list its common shares on the Nasdaq Global Select Market. Investors hope the upcoming listing could also drive Solana adoption and assist the company in acquiring more SOL. Will this altcoin reclaim the $220 floor amid increasing institutional support?
Blockchain Firm SOL Strategies Moves From OTCQB to Nasdaq
Canadian-based Solana blockchain infrastructure firm SOL Strategies Inc. has been approved to be listed on the Nasdaq Global Select Market. The shift will see the company no longer trade in the OTCQB Venture Market but will trade in the U.S. national exchange.
The company will continue to trade on the Canadian Securities Exchange (CSE) under the ticker symbol HODL and reported that its shares would commence trading on the Nasdaq on September 9 under the symbol STKE. The U.S. shares of the company, currently listed under CYFRF on the OTCQB, will automatically convert to the Nasdaq listing, eliminating the need for shareholder action.
It used to be called Cypherpunk Holdings Inc., but since transitioning to investing and developing projects in the Solana ecosystem, it was rebranded to SOL Strategies Inc. The company has been investing in validator operations and in the infrastructure associated with the network.
Chief Executive Officer Leah Wald called the listing a milestone in the life of the company and the Solana ecosystem in general. “Joining Nasdaq aligns us with the world’s most innovative technology companies and positions us to attract the institutional investors who recognize the transformative potential of Solana’s infrastructure,” she said.
Wald added that the listing gives shareholders “enhanced liquidity while giving us access to deeper capital markets as we continue scaling our validator operations and expanding our ecosystem investments.”
“As the leading Solana-focused company to reach this milestone, we’re proud to demonstrate the institutional quality and growth potential that exists within this high-performance blockchain ecosystem.” “Our listing opens new pathways for institutional capital to access Solana infrastructure through regulated and transparent markets.”
The company stated that its uplisting continues to be conditional on the completion of all the required regulatory processes, such as the uplisting of its Form 40-F Registration Statement by the U.S. Securities and Exchange Commission. SOL Strategies believes that its listing on Nasdaq will enhance the liquidity of its shares, as well as its position as an institutional on-ramp to Solana.
Solana Price Eager to Escape a 6-Month Pattern
In the last five days, the Solana price shows a bullish bounce from $194 to $203, registering a 4.5% gain. With the relief rally, the coin price is inching close to hitting the resistance trendline of a rising wedge pattern.
This chart setup, characterized by two ascending trendlines, has been a steady mid-term uptrend in SOL price since April 2025. The coin price bounced twice from the bottom trendline and four times from the overhead trendline, indicating how strongly the pattern is impacting the price trajectory.
If the bullish momentum persists, the SOL price could jump another 9.4% and challenge the overhead trendline. Despite being in an uptrend, a potential breakout from the resistance trendline will signal the buyer’s aggressive nature to drive a higher rally.
On the contrary, a bearish reversal from the resistance will spark a new correction swing within the pattern.
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