ARK Invest Adds 7,115 Shares of 3iQ Solana Staking ETF as SOL Price Holds Near $76

Key Insights:

• ARK Invest purchased 7,115 shares of the 3iQ Solana Staking ETF on August 17.
• However, Solana TVL has declined to $4.85 billion as SOL-denominated deposits fall to 63.84 million.
• Meanwhile, Solana price trades near $76, while the long-term chart places major support around $66 and below.

Solana price held near $74 as Cathie Wood’s ARK Invest reportedly increased exposure to the 3iQ Solana Staking ETF. ARK Daily reported purchases totaling 7,115 SOLQ shares on Aug. 17.

The purchase came against a weaker network backdrop. DeFiLlama placed Solana decentralized finance total value locked near $4.85 billion, while the long-term price chart kept the $66 region in focus.

ARK Invest purchased 7,115 shares of the 3iQ Solana Staking ETF on August 17. The transactions spread the exposure across two of Cathie Wood’s actively managed funds.

The ARK Next Generation Internet ETF acquired 3,830 shares. ARK’s Blockchain & Fintech Innovation ETF added another 3,285 shares.

The purchases give ARK additional Solana exposure through a regulated investment product rather than direct token ownership. The staking structure also links the investment to rewards generated through Solana’s proof-of-stake network.

ARK’s move comes while broader demand for Solana ETFs has recently weakened. SOL-focused ETFs have recorded no new inflows since August 12.

Still, the preceding week produced stronger demand. Solana ETFs attracted $10.26 million between August 10 and August 14, marking their strongest weekly inflow in three months.

However, Solana’s network data presents another source of caution. Total value locked across its decentralized finance ecosystem has fallen from $8.19 billion to approximately $4.85 billion.

The decline also appears when TVL is measured directly in SOL. DeFi protocols held around 75 million SOL on June 7. That figure has since fallen to 63.84 million SOL. The gap equals around 11.16 million SOL that have exited DeFi apps in the specified timeframe.

One possible reason for a dollar-denominated TVL sliding is the drop in token prices. But SOL terms have been falling, indicating real drops in deposits as well.

This matters when assessing the strength behind SOL’s current recovery. Despite the market’s renewed interest in the price and volume, the DeFi balance shows a downward trend, indicating that network capital has not increased at the same rate.

Meanwhile, a two-week Coinbase chart shared by CryptoPatel places SOL price close to a broad long-term accumulation region. The analyst identified roughly $40 to $60 as the preferred accumulation range.

The chart itself marks a wider technical zone between approximately $45.24 and $66.25. SOL currently trades only modestly above its upper boundary.

This area resembles the accumulation structure formed during the 2022 and 2023 market bottom. SOL later rallied sharply from that base and reached the $250 region.

The current cycle has since produced another major correction. Price dropped below the $125.55 horizontal level after failing to sustain momentum around its previous highs.

CryptoPatel maps longer-term targets at $300, $500 and $1,000. The chart also marks $700 before the highest projection.

These levels represent speculative long-term targets rather than confirmed destinations. SOL must first establish a durable bottom and recover major resistance levels.

Notably, the two-week chart records a recent close near $75.43 after reaching $76.23. The first meaningful downside level sits around $66.25. That price marks the upper boundary of the highlighted long-term accumulation zone.

A break below $66 could expose the $60 region cited by CryptoPatel. A deeper weakness would shift attention toward $45.24 and the broader $40 area.

On the upside, SOL crypto faces a much larger hurdle near $125.55. That level previously acted as an important structural boundary during the current market cycle. Beyond $125, the $250 region becomes another major barrier.

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