Solana broke free from its downtrend that kept it bound since September. Many factors, including the network being used for stablecoin deployments and securing a MiCA license, powered Solana.
Solana, aka the ‘Ethereum killer,’ established a new uptrend, ending its 5-month-long downtrend, which pulled the coin from more than $250 to $120. The coin started to recover on the back of multiple positive factors.
OpenEden, a regulated real-world asset (RWA) tokenization platform, teased at deploying a new cUSDO stablecoin on Solana. Unlike other stablecoins, cUSDO is yield-bearing and backed by tokenized U.S. Treasuries. It actually generates a regulated yield instead of just tracking a peg. This shifts capital from static to productive on-chain.
Since cUSDO can be used in lending and borrowing markets, stable-swap pools, yield vaults, structured products, and as collateral for protocols, it has attracted more attention from the community and increased confidence in the ecosystem.
Stablecoins are also often the on-ramp and settlement layer for DeFi activity, and as more yield-bearing stable assets arrive – and users tend to keep liquidity on-chain longer – more transactions occur within Solana’s ecosystem, and the smart contract platform’s overall utility and adoption expand.
Liquidity becomes deeper and stickier, more protocols become receptive to accepting it as collateral, and traders and liquidity pools may even prefer it over static stablecoins for capital efficiency. This reduces reliance on external chains and strengthens Solana’s native economy.
Byrrgis, Solana’s $WOLF-linked trading terminal, obtained the EU MiCA license and opened its waiting list. This points to a major stride towards regulatory compliance in the European market. With this accreditation, confidence within the crypto community was boosted, highlighting Byrrgis as a trusted and secure platform for both retail and institutional users.
With this license, Byrrgis can now operate under clear regulatory frameworks, offering users enhanced legal protections, transparency, and access to advanced trading features.
With such bullish events, Solana recovered from its 5-month downtrend as it hit $145, rising above the 50-day moving average, a short-term indicator.
Once the prices cross this level, it means SOL is bullish in the short term. This newly established uptrend may continue for some time, and SOL could reach above $150 before the Relative Strength Index indicator signals overbought conditions.
