Solana Price Slumps 4% Despite ARK and SOL Strategies Staking Partnership

The Solana price has slumped 4% in the last 24 hours to trade at $187 on a 26% surge in the daily trading volume to $7 billion.

Solana Price Drops as ARK Invest Taps SOL Strategies for Staking

The drop in the SOL price comes despite Cathie Wood’s ARK Invest partnering with Canadian firm SOL Strategies to handle staking for its Digital Assets Revolutions Fund.

While the collaboration highlights growing institutional interest in Solana staking, the market reacted with a pullback in SOL’s price.

Despite the dip, ARK’s move shows confidence in the long-term potential of Solana. The fund, which invests in 10–12 digital assets, is shifting its validator operations to SOL Strategies, an emerging player managing over 3.59 million SOL (around $647 million).

The company is backed by crypto custody provider BitGo and serves over 5,700 wallets, with only 12% of assets coming from its own treasury.Staking continues to gain traction among institutional investors looking to earn passive income from crypto, even as risks like token slashing remain.

SOL Strategies reported a $3.5 million Q2 loss but noted rising revenue from staking and validator services. As ARK, family offices, and hedge funds seek cleaner, regulated exposure to crypto, Solana remains a strong contender despite short-term volatility.

Solana Set for a $260 Breakout as Bullish Pattern Gains Momentum

Solana (SOL) shows signs of a strong breakout, with a clear bullish “cup and handle” pattern forming on the daily chart. This classic pattern often signals that a big price move is coming. At the moment, SOL is trading at $184.06, slightly up by 0.52%.

The chart shows that Solana broke out of a downward (bearish) channel earlier this year. After that, the price formed a large rounded bottom, known as the “cup”, between February and June. This was followed by a short pullback in July that shaped the “handle.”

Now, the price is sitting just below a key resistance level at around $188–$190. If Solana breaks above this level with strong volume, it could rally all the way up to $260. That area is marked as a buy-side liquidity zone, meaning many traders are likely to take profits or enter new positions there.

Break Above $190 Could Spark Rally to $260

Supporting this bullish setup is a strong demand zone (order block) near $130, which pushed the price higher. Also, the price recently filled some fair value gaps between $160 and $170, often a sign that the market is preparing for a bigger move.

The RSI (Relative Strength Index) is currently at 57.71, which means the market is not yet overbought. There’s still room for the price to climb before hitting extreme levels.

In short, Solana looks ready for a big breakout. If it closes above $190, we could see a sharp move toward $260. Traders should watch for a strong breakout and rising volume to confirm the move.