Western Union Partners with Solana for Blockchain Expansion
On Tuesday, Solana (SOL) partnered with Western Union, a leading global remittance network. Western Union announced the launch of its Digital Asset Network and US Dollar Payments Token (USDPT), a stablecoin issued by Anchorage Digital, on the Solana blockchain. The company plans to roll out the network by mid-2026 and distribute USDPT through partner exchanges.
Devin McGranahan, Western Union’s President and CEO, said, “Western Union’s USDPT will allow us to own the economics linked to stablecoins.” The Digital Asset Network will focus on working with wallet providers to enable cash off-ramps.
Solana’s blockchain continues to grow. Helius Labs introduced a new method called getTransactionsForAddress (gTFA), enabling nearly 493 billion Solana transactions to be searched in just 8 milliseconds. Solana’s network processes 912 transactions per second (TPS), second only to the Internet Computer (ICP) at 1,032 TPS, according to Chainspect data.
Bitwise Solana ETF Sees Strong Trading as SEC Approves Grayscale Solana ETF
The Bitwise Solana Staking ETF (BSOL) recorded $56 million in trading volume on its first day, surpassing Litecoin (LTC) and Hedera (HBAR) ETFs, which traded $1 million and $8 million respectively. This makes BSOL the top-performing US-market ETF launched in 2025 so far, according to Bloomberg analyst Eric Balchunas.
The US Securities and Exchange Commission (SEC) also approved the Grayscale Solana Trust ETF (GSOL), set to launch on Wednesday. GSOL holds about 525,387 SOL tokens, worth nearly $102 million as of Wednesday.
These developments highlight rising institutional interest in SOL, supported by growing blockchain adoption.
Solana Price Dips Below $200, Testing Key Support Levels
Solana’s price fell by 2% on Tuesday and currently holds just above $190. The price retraced from the $204-$208 zone and is now testing the Pivot Point at $193 on the 4-hour chart, after dropping below the 50-period Exponential Moving Average (EMA) near $195.
If Solana falls below $193, it may quickly drop to the S1 Pivot Point at $183. This level also matches a support trendline from October lows.
Technical indicators show rising selling pressure. The Moving Average Convergence Divergence (MACD) fell into negative territory on Tuesday, and the Relative Strength Index (RSI) dropped to 43, signaling weakening buying strength.
On the upside, a rebound from $193 could test resistance between $204 and $208. The next major resistance is the R2 Pivot Point at $218.
