Solana Price Surges as BlackRock’s BUIDL Fund Expands to Its Blockchain

NOIDA (CoinChapter.com) — Solana (SOL) prices have been on a run since March 10, jumping over 30% to reach a daily high near $146 on March 26. The rally received more fuel from BlackRock’s decision to extend its $1.7 billion tokenized BUIDL fund to the Solana blockchain. The move has positioned Solana at the center of the institutional crypto narrative, outpacing most major cryptocurrencies this week.

Market participants welcomed the news, but broader macro forces still threaten risk assets: 10-year Treasury yields rose to 4.3% and the dollar gained strength on renewed Fed tightening expectations, potentially capping further crypto rallies despite Solana’s gains.

Solana’s TradFi Moment

On March 25, BlackRock and Securitize expanded the $1.7 billion BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to Solana, making it the fund’s seventh supported blockchain after launching on Ethereum in March 2024. BUIDL tokenizes U.S. Treasuries, offering real-time settlement and yield, with Securitize projecting it could exceed $2 billion in assets by April.

Solana’s high throughput—65,000 transactions per second—and sub-cent fees make it far more efficient than Ethereum’s slower, costlier network. Securitize described the chain as a “natural fit” for tokenized asset deployment. The move is being positioned as a major link between traditional finance and crypto infrastructure.

Institutional traction on Solana has been building. Apollo Global recently launched its ACRED fund on the network, and more than 80% of decentralized exchange activity now takes place on Solana, according to Electric Capital. Analysts suggest BUIDL could drive further institutional flows, with some speculating BlackRock may file for a Solana-based ETF in the coming months.

The timing aligns with a broader tokenization wave. RWA.xyz data shows tokenized Treasuries have surged from $1 billion to $5 billion over the past year, with BUIDL leading the market. Solana’s speed and affordability give it a potential edge in capturing future demand.

Yet risks remain. Solana’s 2022 network outage, triggered by a bot-driven overload, still raises concerns about stability. Macro threats also loom large. Bitcoin ETFs recently saw $1 billion in outflows amid rising rate fears—volatility that could spill into SOL markets. Still, many see this as a turning point. Forecasts from crypto analysts now suggest SOL could approach $400 by year-end if institutional adoption continues accelerating.

Solana Faces Key Resistance As BUIDL Hype Fuels Short-Term Breakout

Solana’s price surged past $145 on March 26, boosted by BlackRock’s BUIDL expansion news. However, the rally is now approaching a major resistance zone. SOL has reclaimed the 20-day (red) EMA near $137 and flipped it into support, but the next hurdle sits near the $152 zone—aligned with the 61.8% Fib retracement level of the January–March drop.

The price structure has formed a clear short-term uptrend, riding higher lows since the $114 support in early March. Volume also confirms bullish interest, with a spike during the breakout on March 25. That said, momentum could face exhaustion. The Relative Strength Index (RSI) stands near 53, signaling neutral momentum, leaving room for further upside but without immediate confirmation of overbought conditions.

Solana price has immediate resistance near $152. Flipping the immediate resistance would target the resistance near $162.

Failure to break above $152 could trigger a pullback toward the $137 and $129 support levels. These coincide with the 20-day EMA and the 23.6% Fib level, respectively. Sustained weakness could expose the $125 zone, which remains a key invalidation point for the current bullish thesis.

Overall, SOL’s move is technically solid but at a critical juncture. Bulls need a decisive breakout above $152 to confirm a trend reversal. Until then, the rally looks promising but remains vulnerable to broader market pressure.