Should You Buy Solana in 2025?

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At HelloSafe, our expert has been tracking the development of the Solana cryptocurrency for over three years. Each month, hundreds of thousands of users across Canada trust us to analyze market trends and identify the best investment opportunities. Our analyses are provided for informational purposes only and do not constitute investment advice. In line with our ethical charter, HelloSafe has never purchased Solana or received compensation from any entities linked to its ecosystem.

Solana in brief

How much does 1 Solana cost?

The price of Solana is down this week. As of today, Solana (SOL) is trading around $213.50 CAD, reflecting a 24-hour decrease of approximately 3% and a weekly drop of about 6.5%. Its current market capitalization stands near $112 billion CAD, with an average 3-month daily trading volume of $4.1 billion CAD. Solana is ranked 5th in the crypto market, with 602 million SOL in circulation and a market dominance of roughly 3.1%. Rapid price shifts highlight Solana’s volatility and potential for both risk and opportunity in a dynamic Canadian market.

Our full opinion on the cryptocurrency Solana

Have we reached a pivotal moment for Solana in the digital asset landscape, or is its outstanding three-year trajectory just the prelude to renewed momentum? By analyzing Solana’s recent market action alongside a rigorous blend of on-chain data, technical signals, market flows, and the evolving competitive environment—processed through our proprietary algorithms—we uncover underlying drivers that could shape its next cycle. So, why might Solana emerge in 2025 as a strategic entry point for any investor seeking high-conviction opportunities in the Layer 1 and DeFi ecosystem?

Performance & Market Context

Recent Price Evolution

Solana (SOL) has exhibited resilience and outperformance among major Layer 1s, stabilizing in the $156–$157 USD range (June 2025), with a capitalisation near $81–$82 billion. Over the past quarter, the asset demonstrated moderate volatility with constructive higher lows, oscillating between $160 and $170—consistent with its broader three-year narrative, where Solana’s price recovered robustly post-2022 to reclaim a leadership stance in Layer 1s.

• 24h trading volume: $2.5–3.2B USD, reflecting sustained liquidity and interest.
• Annual performance: Notable uptrend, underpinned by DeFi migration, protocol upgrades, and rising developer engagement.

Positive Market Events

Recent tailwinds include:

• Canada’s launch of a Solana spot ETF—catalyzing credibility and institutional penetration in North America.
• Futures ETF introduction—expanding hedging and arbitrage strategies for sophisticated investors.
• VC funding wave: $173M ecosystem raises in Q3 2024 signal robust innovation and deepening capital pools.

Macro/Sectoral Backdrop

The crypto market benefits from a favorable macro setup in 2025: diminishing US inflation, a weakening dollar environment, stronger risk-on sentiment, and a regulatory focus shifting toward clarity rather than hostility. Within this climate, Layer 1 "blue chips" like Solana appear primed to capture both institutional and retail flows—especially as scalable DeFi platforms gain traction post-Ethereum congestion.

Technical Analysis

Key Crypto Indicators

• RSI: Neutral territory (46–67 depending on timeframe), with no overbought signal—ample headroom for further upside.
• MACD: Generally bullish crossover, at +0.578, with an emerging upward momentum signal on higher timeframes.
• Moving Averages: 50-day MA ($158.05) acts as pivotal local resistance. With price consolidating above long-term support ($160), the 200-day MA ($176) will be a key “breakout” to monitor.

Support & Bullish Reversal Signs

• Support zones: $156–160 range shows repeated buying interest—a technical “floor” holding since Q1 2025.
• Resistance: $170–180 marks the upside “ceiling,” whose breach in high-volume conditions could trigger further rotation into SOL.
• Momentum: Nearly 90% of moving average signals remain bullish, indicating a technical environment biased toward up-cycles in the coming months.

Short/Mid-Term Structure

Structurally, SOL is forming a classic accumulation-reaccumulation phase. A breakout above the $170–180 resistance, sustained by volume, would validate a mid-term bullish thesis and potentially attract new inflows, especially as critical protocol upgrades (such as Firedancer) near deployment.

Fundamental Analysis

Accelerating Adoption & Ecosystem Growth

• DeFi Leadership: Now #2 by TVL globally (~$9.45B), Solana’s asset base has surged 25% in two months, driven by platforms like MarginFi and Kamino.
• Active User Growth: User base expanded 50% in 2024; daily active addresses now surpass 1M—outpacing many competitors.
• Developer Momentum: Over 7,600 new developers joined in 2024 (+83% YoY), pushing Solana ahead of Ethereum for dev onboarding.

Attractive Valuation Metrics

• Market Cap/TVL ratio: Among the most attractive in large-cap Layer 1s, showing disproportionate blockchain activity relative to capital base.
• Fully Diluted Valuation (FDV): $88–90B, still at a discount to the implied TVL-adjusted “fair value” based on DeFi expansion scenarios.
• Liquidity: Top-tier 24h volumes and tight spreads—ideal for institutional allocation and robust market depth.

Structural Strengths

• Ultra-high TPS: Real throughput of ~1,000 TPS, with potential scaling beyond 1M TPS post-Firedancer, resolving prior network reliability concerns.
• Proof of History consensus: Enables deterministic ordering for seamless dApp experiences.
• Active, influential community: Developer growth, VC backing, and global hackathons amplify network effects and innovation cycles.

Market Dominance & Positioning

• SOL consistently ranks in the top 5 digital assets by market cap and TVL, now standing as the leading challenger to Ethereum in DeFi, NFT infrastructure, and “chain GDP” (grew 20% in Q1 2025 to $1.2B).
• Ecosystem breadth: Jupiter (DEX), MarginFi (lending), and NFT marketplaces contribute to a flywheel effect, attracting both users and liquidity.

Volume, Liquidity & Institutional Signals

• Sustained high volumes: $2.5B+ daily reflects institutional-grade liquidity.
• ETF Catalysts: Approval probability for a Solana US ETF is priced in by >80% of surveyed investment managers; Canada’s ETF launch adds immediate access.
• Onchain analytics: Persistent accumulation by smart money since late Q1 signals strong conviction by crypto-native funds.

Positive Catalysts & Future Outlook

• Firedancer upgrade: Set for testnet in late 2025; should drastically boost network throughput, lower latency, and reduce downtime.
• Cross-chain DeFi expansion: Integration with leading oracle providers and stablecoin infrastructure.
• Regulatory clarity: Ongoing partnership with VARA Dubai and increasing North American ETF mainstream acceptance.
• Potential new use cases: Onchain gaming, AI market integrations, and real-world asset tokenization opportunities.

Investment Strategies by Horizon

Short-term (Weeks to 3 Months)

• Entry on pullback to $156–160 offers attractive risk/reward, considering proximity to technical support and impending Firedancer testnet narrative.
• Potential for a volatility spike if ETF news breaks positively, which could trigger short-term breakouts above $170–180.

Medium-term (3–12 Months)

• Positioning ahead of protocol upgrades (Firedancer) and ETF approvals could yield outsized returns, with the next major resistance at $200–225 likely in play if momentum continues.
• Ongoing ecosystem growth—especially in DeFi and NFT marketplaces—suggests further “market share” gains are plausible.

Long-term (1–5 Years)

• Compelling asymmetric upside as Solana consolidates Layer 1 status and powers the next generation of onchain platforms.
• The steadily expanding developer and user base, plus regulatory normalization, provide a robust backdrop for multi-year price appreciation.
• Strategic accumulation on weakness appears justified, especially for diversified crypto portfolios targeting high-growth infrastructure bets.

Solana Price Forecast: 2025–2029

Is Now the Right Time to Buy Solana?

Key Strengths to Remember

• Solana delivers a unique blend of technology, scale, and vibrant ecosystem growth—backed by tangible leadership in DeFi, rapid user onboarding, and a thriving developer community.
• Its market positioning, reinforced by major catalysts such as ETF products and the upcoming Firedancer upgrade, provides a compelling case for renewed capital inflow.
• The chain’s attractive valuation, robust liquidity, and sustained institutional attention suggest that the market may be underpricing its future potential.

Optimistic Outlook & Conviction

Solana stands at the frontier of blockchain innovation, with each technical and ecosystem milestone reinforcing its long-term relevance. In an environment where digital assets are increasingly recognized by global markets, the combination of next-gen performance, mainstream adoption triggers, and resilient fundamentals means Solana could well enter a renewed bull phase.

For investors prioritizing high-conviction, growth-oriented assets within the crypto space, Solana’s current technical structure, ecosystem momentum, and macro context seem to represent an excellent opportunity for strategic exposure. The sustained price acceleration, robust volume, and favorable upcoming catalysts justify renewed attention—especially as Solana is positioned to capture significant share from both Ethereum and emerging Layer 1 contenders.

Solana remains a highly volatile asset that offers dynamic investment opportunities, requiring disciplined risk management. The recent price acceleration underscores its capacity for rapid market moves, while the evolving macro and regulatory landscape calls for selectivity and informed allocation. Upcoming events such as the Firedancer upgrade and prospective ETF approvals should be watched closely as potential inflection points for future performance.

How to buy Solana?

It’s quick and secure to buy Solana (SOL) online through a regulated cryptocurrency platform in Canada. Investors have two main options: you can purchase Solana “spot” (owning the coins directly in a wallet), or trade Solana’s price movements via a CFD (Contract for Difference), which doesn’t involve real coin ownership. Each method has its own benefits and risk profile. Below, we explain both approaches, so you can decide what suits you best. If you want to compare platforms and their fees in detail, check out our Solana platform comparison further down the page.

Spot Purchase

Buying Solana spot means you acquire the actual SOL coins, which are then stored in your account or personal wallet. In Canada, major regulated brokers and crypto exchanges typically charge a flat transaction fee, often in CAD, ranging from 0.5% to 1.5% per trade.

Example

Example: If SOL is trading at $157 CAD per coin, and you invest $1,000 CAD, you’ll be able to buy roughly 6.36 SOL ($1,000 / $157), minus an estimated $7 in transaction fees. You’ll end up with approximately 6.31 SOL in your portfolio.

Profit scenario

✔️ Profit scenario: If Solana’s price rises 10%, your coins are then worth $1,100 CAD. That’s a gross gain of $100, or +10% on your initial investment (excluding fees).

CFD Trading

CFD trading lets you speculate on Solana’s price without actually owning the SOL tokens. You simply open a position on the price direction. Fees typically include a spread (difference between buy and sell price) and, for positions held overnight, a daily financing cost.

Example

Example: You open a SOL CFD position with a $1,000 CAD margin, using 5x leverage. This means $5,000 CAD of exposure to Solana’s market movements.

Profit scenario

✔️ Profit scenario: If Solana’s price goes up by 8%, your leveraged position gains 8% × 5 = 40%. That’s a $400 CAD profit on your original $1,000 (before fees).

Final Advice

Before investing, always compare the fees, trading conditions, and safety features of different platforms—it can make a significant difference to your returns. The choice between spot buying and CFD trading depends on your goals, risk tolerance, and experience. If you’re unsure, our platform comparison below will help you make an informed decision.

Our 7 tips for buying Solana

The latest news about Solana

The approval of the world’s first Solana spot ETF in Canada on May 30, 2025 confirms the country’s leadership in institutional crypto adoption. The Purpose Solana ETF, launched on the Toronto Stock Exchange, marks a milestone for Canadian and international investors seeking regulatory-compliant exposure to SOL without the need to self-custody tokens. This ETF, quickly gaining significant assets under management, evidences strong investor uptake and positions Canada ahead of the United States, where the SEC has delayed its decision on a spot Solana ETF until October 2025. Major Canadian brokerages and pension funds have noted the move as a constructive regulatory signal, underlining Canada’s supportive framework for digital asset innovation.

Solana’s blockchain ecosystem has recorded a record surge in DeFi activity, with TVL rising by 25% from April to May 2025. Total Value Locked on Solana climbed from $6.1 billion to $7.65 billion within a month, positioning Solana as the second network globally, ahead of TRON. Canadian DeFi startups and institutional players have actively deployed capital on Solana’s DeFi protocols, benefiting from the network’s efficiency and low fees. This performance is especially notable for Canadian traders and VC funds, many of which report increasing their allocations to Solana DeFi strategies in response to sustained double-digit growth.

Solana’s technical fundamentals remain robust, with over 89% bullish signals from moving averages and a neutral-to-positive momentum. The current price sits near $157 USD, slightly below the 50-day moving average (~$158), suggesting a key technical resistance. Technical indicators such as RSI (46–67) and MACD point to a consolidation phase with emerging bullish undertones. For Canadian investors, these signals—combined with historical liquidity and volatility patterns—support continued institutional interest, while local trading platforms have reported high liquidity and efficient price discovery for SOL-denominated pairs.

An exceptional surge in developer activity has anchored Solana’s innovation engine, with over 7,600 new developers joining the community in 2024. The number of active monthly Solana developers in 2024 has grown by 83% year-over-year, exceeding Ethereum’s net growth for the first time. This dynamic is reflected in the proliferation of Canadian-founded Solana projects and hackathons, with the Toronto, Vancouver, and Montréal tech scenes actively nurturing Solana-based startups and dApps. This trend strengthens Solana’s value proposition as an infrastructure choice for local blockchain entrepreneurs and further integrates the network into Canada’s digital economy.

Solana’s ecosystem potential is further bolstered by upcoming network upgrades, notably the ‘Firedancer’ client projected to enhance throughput and scalability. The Firedancer upgrade, currently under active development, is expected to lift the network’s practical throughput to over one million transactions per second, cementing Solana’s lead in high-performance blockchain infrastructure. Canadian institutional stakeholders—including several private equity and pension funds—have referenced this technical roadmap as a key differentiator when assessing Solana versus other layer 1 alternatives, pointing to meaningful opportunities for both DeFi scale and enterprise adoption locally.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.