Solana has just won a major partnership in the Middle East, but the market reaction was good … dull.
On Tuesday, the Solana Foundation announced that it had signed a memorandum of understanding (Mou) with the regulatory authority for virtual assets of Dubai (VARA), a decision which signals deeper regional ambitions and long -term infrastructure plans. However, Solana (soil) barely moved, exchanging about $ 160 despite the strategic implications.
Here is a deeper dive.
A movement of power in the MENA region
This ego opens the way to tangible initiatives in Dubai, including talent development programs, data sharing efforts, workshops and advisory sessions – all heading to an economic area of Solana in the city.
“This partnership helps the founders of Solana to connect directly to this momentum”, ” The foundation shared on X.
Dubai has made its plans known to become a world leader in web3, and Solana clearly aims to be part of this infrastructure.
Big Money supports the blockchain
That’s not it. Earlier Monday, NewGenivf Group Limited, a Fertility Service provider based in Asia, revealed that he would invest $ 30 million in Solana Staking – a massive jump compared to his first scorer of $ 1 million in December 2024.
“The decision to develop our investment in our initial bitcoin position of $ 1 million in this Solana’s substantial commitment of $ 30 million reflects our growing conviction in digital assets as a class of legitimate assets”, ” said Siu Wing Fung Alfred, founder and CEO of Newgen.
It is a surprising source, of course. Although the moment may be fierce, consecutive announcements paint a table of increasing institutional trust in Solana. I love to see it.
The techniques paint a cautious image
Despite the bullish headlines, the action of soil prices was attenuated. The token broke down below a key trend line last week and plunged more than 9%, set up at $ 157 this weekend. When writing the editorial’s moment, he hovers just below the 200 -day EMA at $ 163.22, a critical resistance zone.
The technical indicators remain cautious – RSI is at 45, below neutral, and the MacD shows a lower crossover. If the 200 -day EMA, Sol could review its lower May 6 of $ 141.41. But if the bulls recover $ 163.22, a push around $ 184.13 is back on the table.
Overview: a long moving game!
Solana’s push to Dubai is to integrate into the foundations of the global web 3 policy and infrastructure. Add major capital inputs such as the commitment to set up NewGenivf, and the long -term narrative of soil continues to build.
Whether or not the graphics catch up in the short term, Solana is clearly positioned for something larger. We will be there to tell you about it.
