Solana at Breakpoint: Big-Ticket Deals Surface as Fed Worries Press on Price

Breakpoint’s showcase of capital inflows

The event kicks off with a flurry of major headlines. State Street, the world’s fourth-largest asset manager with upwards of $5 trillion under management, plans to launch a tokenized liquidity fund on Solana in 2026. The fund—named SWEEP—will utilize PayPal’s PYUSD stablecoin for payments, with Ondo Finance leading a $200 million initial funding round.

In tandem, Sky (the organization formerly known as MakerDAO) unveiled the “Tokenization Regatta,” a $500 million initiative aimed at bringing real-world assets onto the blockchain. Interest has already been expressed by more than 40 institutions, and the program is now accepting applications.

Coinbase is expanding access as well, offering its roughly 100 million users a direct route to Solana-based DEX tokens. Investors will be able to access thousands of tokens through a debit card, bank account, or USDC, without waiting for traditional exchange listings.

Technical chart picture remains fragile

On the price technical side, Solana continues to wrestle with a stubborn resistance zone between $145 and $150. The hourly MACD is drifting in a bearish consolidation phase, and the RSI sits below 50. Support sits at $135, which corresponds to the 61.8% Fibonacci retracement level.

On-chain and market dynamics

Should investors sell immediately? Or is it worth buying Solana?

Strategic accumulation is evident at the address level as well. Addresses holding more than 1,000 SOL rose about 15% over a one-week period. Meanwhile, Solana’s beta to Bitcoin softened, slipping from 2.0 to 1.2, signaling a growing degree of decoupling from the broader crypto market.

Fed influence and liquidity concerns

The retreat in risk sentiment follows the Fed’s latest meeting, which signaled fewer anticipated rate cuts for 2026. In the crypto space, more than $514 million in liquidations unfolded within 24 hours, illustrating the nerves in the market. Bitcoin failed to hold the $94,500 level, dragging altcoins—including Solana—into a broader corrective move.

Analysts’ near-term picture for Bitcoin points to a continued volatile regime, with QCP Capital forecasting a trading band of roughly $84,000 to $100,000 for the year’s end. That outlook implies ongoing volatility for SOL as well.

ETF watch and potential catalysts

Looking ahead, the SEC has a decision on VanEck’s Solana ETF application scheduled for December 15. Polymarket assigns a roughly 75% probability of approval. Separately, Franklin Templeton already has a Solana ETF with staking rewards listed on the NYSE. If VanEck gains approval, it could inject fresh momentum into the SOL narrative.

The Breakpoint announcements have laid a foundation for additional growth, though the macro headwinds remain a key test for the token. The $150 mark stands as a critical hurdle to watch in the coming weeks.