TLDR
- Gemini introduces Solana-branded credit card with 4% SOL rewards and 6.77% staking yields for cardholders
- SOL trades at $194 after defending $175-$186 support zone with volume hitting multi-month peaks
- Futures open interest exceeds $8 billion while spot market shows $31.7 million in net inflows
- Corporate treasuries hold 20+ million SOL tokens as Q3 network revenue reached $223 million
- Technical breakout above $202-$211 could trigger rally toward $235-$250 price targets
Gemini announced a Solana credit card on October 20, 2025. The card gives users up to 4% back in SOL tokens on all purchases.
Cardholders can stake their earned rewards for up to 6.77% annual returns. The product operates on the Mastercard network.
This represents Gemini’s third crypto-branded credit card. The exchange previously released Bitcoin and XRP versions in 2025.
Gemini cited Solana’s growing developer community as the reason for the launch. The exchange called it a logical choice given the network’s momentum.
The credit card program has driven growth for Gemini. User sign-ups jumped from 8,000 to nearly 31,000 between August 2024 and August 2025.
Mizuho analysts noted the card platform as a key revenue driver. Gemini completed its public listing in September 2025.
Current Price Movement and Key Levels
Solana trades at $194 as of October 21, 2025. The token remains well below its $293 all-time high.
SOL has maintained support between $175 and $186 since August. This zone has consistently attracted buyers during price dips.
The $200 level represents the next immediate resistance. Breaking this barrier could shift short-term momentum to the upside.
Solana is trading within a descending channel on daily charts. A sustained move above $202-$211 would break this pattern.
The $202-$211 zone includes the 20-day and 50-day moving averages. It also contains key Fibonacci retracement levels.
Analysts see potential targets at $221-$222 after a breakout. Extended targets sit at $235 and $250.
Market Activity Increases
Trading volume has climbed to multi-month highs. The increase suggests renewed interest from traders.
Futures open interest now exceeds $8 billion. Rising open interest often precedes larger price moves.
Spot market data shows $31.7 million in net inflows. This indicates buyers are accumulating at current levels.
Institutional Backing Remains Strong
Digital asset firms hold over 20 million SOL in corporate treasuries. This demonstrates long-term confidence in the network.
ARK Invest reported $223 million in Q3 revenue for Solana. The figure ranks among the top blockchain networks.
Grayscale highlighted Solana’s high transaction throughput and low fees. The network continues attracting new developers.
Annual staking yields around 7% provide income for holders. Network upgrades like Firedancer aim to boost capacity.
A daily close above $202-$211 would confirm a trend change. This would strengthen the case for a move toward $235-$250.
ETF developments could serve as additional catalysts. DeFi activity and DEX volumes continue supporting network growth.
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