- Marco Santori introduced Solmate, a new Solana-focused infrastructure company in the UAE.
- Solmate is supported by the Solana Foundation, UAE investors, Ark Invest, and the Pulsar Group.
- Analysts highlight $238 as a key pivot point for SOL’s price, with further gains likely if this level holds.
- CoinDesk Research notes that SOL buyers held $245 as support, with resistance seen at $253.
- Technical charts show a strong uptrend, with $238 viewed as the crucial pivot for Solana’s continued growth.
Marco Santori, formerly of Kraken, announced the launch of Solmate, a new infrastructure firm focused on the Solana Blockchain in the United Arab Emirates. He said Solmate will operate as a digital asset treasury and crypto infrastructure company with a core goal of growing SOL-per-share for shareholders.
According to Santori, Solmate is working in partnership with the Solana Foundation and is backed by investors from the UAE and Ark Invest, which he described as a rare investment move by an exchange-traded fund. Santori explained that Solmate aims to efficiently raise and convert fiat currency into cryptocurrency, leveraging partnerships with the Pulsar Group and RockawayX, a staking infrastructure provider. Viktor Fischer is set to join Solmate’s board.
Santori said Solmate plans to deploy “bare-metal validators” in Abu Dhabi to increase reliability and performance for Solana staking. He described digital asset treasuries (DATs) as “capital accumulation machines,” saying, “The best DAT is the one with the best access to capital, and the UAE is the Capitol of Capital.”
Analyst Rekt Capital noted that Solana’s price has broken its long-term downtrend and is now testing the $238 level as support, which was previously a significant resistance point. Rekt Capital said a successful hold above $238 would keep the outlook for new all-time highs intact. Trader KALEO said in a post that four-figure prices for SOL, including $1,000 and above, are “not a meme,” though he did not provide a specific timeline.
Research by CoinDesk covering September 17–18, 2025, reported that SOL’s price increased from $233.78 to $250.59, with heavy buying around $245 and resistance around $253. The report states that “buyers defended ~$245; sellers capped ~$253,” highlighting these levels as key areas to monitor. Further analysis shows that, over the past month, SOL has moved in a clear uptrend, with $238 identified as the main pivot. A sustained move above this level is seen as necessary for Solana’s bullish momentum.
Other details in the report indicate that maintaining support near $245 and breaking resistance at $253 could allow SOL’s price to test higher targets between $255 and $260. Loss of the $245 level could prompt short-term pullbacks towards $238.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Bullish Soars on NY License; Circle Stock Jumps with USDC Surge
- Canadian Police Seize $56M in Crypto, Shut Down TradeOgre
- PayPal, Google Shares Rise on New AI-Powered Commerce Partnership
- Michael Saylor Dodges OP_RETURN Question Amid Bitcoin Node Feud
- Chainlink (LINK) Eyes $100 as Price Rallies 82% in Strong Q3
