Solana’s role in the race to capture the tokenized markets won new attention this week when the CIO Bitwise Matthew Hougan called him “The new Wall Street.”
Talking to Akshay Rajan de Solana Labs on October 2, Hougan said that global financial leaders increasingly recognize the disruptive potential of stable and token.
He pointed out that the chiefs of the SEC and the Bank of England, together with the Blackrock CEO, have indicated that digital assets could remodel payments and stock markets. Hougan added that this narrative resonates strongly with investors who understand the scale of change that such technologies could bring.
Hougan said that once the public begins to consider how to obtain exposure to blockchain, comparisons between platforms inevitably follow. In that evaluation, he argued, the combination of speed, performance and almost instantaneous so -of -the -law of Solana makes it “extraordinarily attractive.”
He cited improvements of 400 microseconds to 150 microseconds in liquidation speed, describing the characteristic as intuitive for those accustomed to commercial environments where execution and latency are critical.
Framing Solana as “The new Wall Street,” Hougan said Blockchain’s technical advantage is resonating with market participants. He said the narrative is “really resonant” and added that “you will see substantial flows.”
Technical analysis of the action of the Sun Price
According to the technical analysis data model of Coindesk Research, during the 23 -hour session from October 3 at 3:00 p.m. UTC to October 4 at 2:00 p.m. UTC, Sol was negotiated within a narrow range of $ 8.40 between $ 228.19 and $ 237.04, which reflects a consolidation period.
The maximum was established at $ 237.04 around 4:00 p.m. on October 3 before the constant sale pressure pushed the lowest price towards the $ 228– $ 229 area, which acted as support.
The commercial activity was the strongest at the beginning of the session, with volumes that reached 3.29 million units around 5:00 p.m., but gradually decreased to only 42,637 for the closing time of the analysis period. This acute reduction in volume suggested to weaken participation and a possible pause before a larger directional movement.
In the last 60 minutes, from 13:11 to 14:10 UTC on October 4, Sol broke below the established support zone of $ 228– $ 229. Prices fell from $ 229.84 to $ 228.94, a 0.39% drop that confirmed the bearish change.
Within this window, the market showed two phases: an early rebound attempt that briefly raised the price at $ 229.78 at 13:38, followed by a renewed sale that reduced the Token at $ 228.72.
It is important to highlight that this breakdown coincided with an increase in volume. The busiest minute occurred at 14:01, when 18,011 units were negotiated, the highest reading of a minute of the session.
This fall price pattern together with the ascending volume suggested that the largest sellers were active, which potentially increased the probability of continuing the bearish impulse.
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