- Solana trades at $158.32, down slightly daily. It holds above key $152-$160 support, a zone known for buyer interest.
- An ascending triangle pattern forms on SOL charts. Breaking $164 resistance could target $180-$200; falling under $152 risks $138-$141.
Solana (SOL) is trading at $164.32 USD, up 1.81% on the day. Although it has shown a slight +0.89% gain over the past week, the broader trend remains corrective, with SOL down −11.00% over the past month, −16.16% year-to-date, and −30.39% over the past six months. Despite these figures, Solana is still up +290.89% all-time, showing long-term.
Technically, SOL is trading just above a strong demand zone between $152 and $160, which has historically attracted buyers. ETHNews analysts note the formation of an ascending triangle, often a bullish continuation pattern.
A breakout above $164 could push the price toward $180–$200 targets. Conversely, a breakdown below $152 would invalidate the bullish setup and could trigger a move down to $138–$141 support levels.
On the fundamental side, Solana has seen notable developments. Its first Layer-2 solution, Solaxy, recently completed a $46 million presale, aimed at solving network congestion and transaction latency issues.
🚨BREAKING: Societe Generale-FORGE, a subsidiary of France’s top bank, plans to launch USD-backed $USDCV stablecoin on @Solana, with BNY (Bank of New York) as reserve custodian. pic.twitter.com/lE9db0k7yx
— SolanaFloor (@SolanaFloor) June 10, 2025
Additionally, Solana’s involvement in launching stablecoins through partnerships with institutions like Société Générale highlights growing real-world integration and DeFi ecosystem expansion.
Société Générale Launches Dollar-Backed Stablecoin on Ethereum and Solana—Trading Starts in July
Société Générale Forge (SG FORGE), the crypto-asset subsidiary of France’s Société Générale, has announced the release of a new stablecoin tied to the U.S. dollar. The token, named USD CoinVertible (USDCV), will be deployed on Ethereum and Solana blockchains. According to SG FORGE, this is the first dollar-backed stablecoin launched by a regulated bank.
The company already operates a euro-backed stablecoin, EUR CoinVertible (EURCV), which complies with MiCA regulations. This earlier product was also launched on Ethereum. The release of USDCV continues SG FORGE’s plan to expand its digital finance offerings in dollar-dominated markets.
Trading of USDCV is expected to begin in July 2025. Société Générale stated that eligible clients will be able to instantly convert fiat currency into the dollar-pegged stablecoin. U.S. clients will not have access to this product due to regulatory boundaries.
BNY Mellon will act as the custodian of the U.S. dollar reserves backing the stablecoin. The involvement of a major U.S. bank ensures the funds supporting USDCV are held with a regulated institution.
