Solana maintains $103 support as MoneyGram CEO spotlights stablecoin payments

MoneyGram partnership emphasizes real-world utility

At the latest Breakpoint conference, Anthony Soohoo, CEO of MoneyGram, is set to share insights on how the company leverages Solana’s low fees and fast settlement speed to reshape cross-border payments. MoneyGram, a global payments service, has already integrated Solana into its Ramps feature, allowing customers to easily transition between fiat currency and digital assets on its platform.

Solana described stablecoins as a “killer app” for the blockchain, underlining their increasing relevance in the network’s growth narrative. This further supports Solana’s positioning not only as a trading hub but also as a platform for global payment solutions.

Solana called stablecoins the “killer app,” emphasizing their central role in enhancing real-world use for the network, particularly through payment initiatives with partners like MoneyGram.

Industry observers regard the partnership as a significant step, since mainstream adoption of stablecoin payments can enhance Solana’s utility, potentially driving further network adoption and strengthening its broader ecosystem impact.

Mini dictionary: MoneyGram is a leading international money transfer and payment services company. As one of the world’s largest remittance providers, it operates widely across global markets, including digital asset integrations.

Solana price remains above key levels

Currently, Solana trades at $103.70, reflecting a marginal decline of 0.10% in the last 24 hours. After a recent spike above $110, the asset has held steady around this zone, supported by ongoing demand and ecosystem developments.

Key technical support sits at $94.67, with the 50-day and 200-day moving averages at $82.68 and $85.51, respectively. The Relative Strength Index (RSI) is near 62.55, indicating that Solana remains in bullish territory but has not yet reached overbought conditions. Should buyers regain momentum, a move above the $105 region could signal renewed upside potential.

Market activity shows strong participation

Open interest for Solana futures, tracked by CoinGlass, has reached approximately $6.6 billion, markedly higher than levels seen in July and early August. This trend points to increased trading engagement around Solana.

Additionally, volume data reveals heightened activity during Solana’s August rally, with trading volumes peaking near $18 billion. Elevated open interest and volume commonly suggest robust market participation and may increase the probability of larger price movements.

Looking ahead, analysts identify $94.67 as a critical support level, while resistance is expected between $105 and $110. If Solana maintains strength above support, it may make another attempt to move towards the $110 range, fueled by positive momentum within its ecosystem.

CoinGlass data shows open interest and trading volume on Solana have surged, reflecting an active and engaged market that may provide the foundation for further price attempts toward recent highs.