Author: Dan Cecilia & Shelley VanWitzenburg
Sept 12, 2025
Hello tasty fam! We hope you are having a great start to your weekend.
Last week, we focused on the question – is altcoin season finally here? In that post, I mentioned that one of the key signs I was paying attention to was the rotation from BTC to other tokens, specifically ETH and SOL.
This week I want to focus on Solana.
Solana Season
Solana has broken out, rising around 20% over the past week to break through $240. This surge in price has been fueled by the recent announcement of the newly established Solana DAT company Forward Technologies (NASDAQ:FORD), which has raised over $1.65 billion to become the largest public holder of Solana. Forward Technologies joins Upexi ($UPXI), DeFi Development Corp. ($DFDV), and Sol Strategies ($STSS) as the largest public buyers of Solana.
Below, you can view the growth in DAT SOL Holdings.
Solana price momentum since bottoming in August.
Sol v ETH ratio chart shows a bottoming in August and a rise since the beginning of September.
The off-chain metrics for Solana support the rotation narrative. Let’s go a bit deeper and take a look at some on-chain indicators.
In 2024, Solana was one of the main beneficiaries of the memecoin craze. The craze saw a massive rise in memecoin launchpad applications, like Pump.Fun, and DEX trading terminals, like Axiom.
These applications added millions of new wallets and billions in transaction volume to Solana, peaking at the end of 2024. This solidified the chain as the primary home of on-chain traders and proved that Solana had real users and real application revenue.
Staking data shows that 66% of Solana supply is being staked. This further reduces the supply on the market, which will continue with the rise of the Solana DATs. The reduction of supply through staking will boost the price of Sol as more people catch onto this DAT trend.
Additionally, it’s important to note that stablecoin market cap on Solana has been growing rapidly. Stablecoin flows are a useful indicator to track liquidity and usage on chain.
You can see the trend in the chart below.
Finally, I want to present a newer metric, “Mindshare”, which tracks the attention and sentiment for specific topics. Just this past week, Solana has flipped Bitcoin in mindshare as tracked by Kaito.ai.
These on-chain indicators for Solana highlight a chain that is growing its users, revenue, liquidity and mindshare. If this momentum continues, Solana could be the signal we need that the altcoin rotation is heating up.
Personally, I’m looking to add SOL on any dips and am targeting a $500 price target before this cycle is over.
DAT Tracker
I wanted to provide a list of the most popular crypto public companies, as we have been heavily covering the rise of DATs in the public markets.
| Symbol | Name | Exchg |
| MSTR | Strategy Inc Class A | NASDAQ |
| COIN | Coinbase Global Inc Ordinary Shares – Class A | NASDAQ |
| CRCL | Circle Internet Group Inc Ordinary Shares – Class A | NYSE |
| BMNR | BitMine Immersion Technologies Inc | XASE |
| BLSH | Bullish | NYSE |
| FORD | Forward Industries Inc | NASDAQ |
| GLXY | Galaxy Digital Inc Ordinary Shares – Class A | NASDAQ |
| GME | GameStop Corp Class A | NYSE |
| OCTO | Eightco Holdings Inc | NASDAQ |
| SBET | SharpLink Gaming Inc Ordinary Shares | NASDAQ |
| STSS | Sharps Technology Inc | NASDAQ |
| UPXI | Upexi Inc | NASDAQ |
| MCVT | Mill City Ventures III Ltd | NASDAQ |
| SUIG | Sui Group Holdings Ltd | NASDAQ |
| TRON | Tron Inc | NASDAQ |
| BTBT | Bit Digital Inc Ordinary Shares | NASDAQ |
| BTCT | BTC Digital Ltd Ordinary Shares | NASDAQ |
| GAME | GameSquare Holdings Inc | NASDAQ |
Recurring Crypto Purchases at tastytrade
If you haven’t heard, tastytrade just added a really useful crypto investing feature to the platform, recurring purchases. You can now set up recurring purchases to buy any token on a regularly scheduled basis.
Personally, I like to try and time the markets and I like when it get’s a little crazy, but that’s just me. If you prefer to take a different approach and dollar cost average into an investment over time, this is an easy, automated way to do it, which can help smooth out your average entry price.
DeFi Highlights
We will highlight a few DeFi LP plays that you can check out for those of you deep in the trenches.
$TC/SOL on Meteora
If you haven’t been following along, we launched a token on our BEANS livestream and setup a liquidity pool on Meteora.
If you would like to follow along and provide liquidity, you can do so here.
Note: the $tc token is for entertainment and education purposes only. It’s not an investment.
Ryan's Charts
Did you miss our Performance Dashboards?! Shout out to Ryan for putting these together while on dad duty. We’ve got green on the screen!
BEANS
🔥 Fridays are for fire.
Each week on BEANS, Shelley and Dan torch some $TC—chipping away at a planned 300M token burn.
Want in? Send $TC to the burn wallet. Jump in the Discord or X Community for more info.
Bring your marshmallows. Stay for the chaos.
🫘BEANS Episode 36: Pump, Pool, Burn@pumpdotfun @MeteoraAG $TC 🔥
— tastycrypto (@tastycrypto) September 12, 2025
5x Giveaways! RT | Follow | tag friend 👇
for a chance to win $USDC + other prizes https://t.co/djz8AGVDSZ
Miss the live tasty Shows?
🍒 Highlights:
🍒 Are you in the $TC X Community?!
🍒 BEANS Episode 36
🍒 Gotta LP them all!
Much love,
Dan and Shelley