Solana (SOL) is showing signs of a price reversal after a recent partnership was announced with a Korean bank. SOL faced a steep dip to the $60 price level earlier this month amid a market-wide correction. CoinGecko data shows that SOL’s price has risen by 1.2% in the last 24 hours, 4.2% in the previous week, and 13.7% in the 14-day charts. Let’s discuss if the Korean bank partnership can continue to propel Solana’s (SOL) price.
Can Solana Continue Its Price Reversal?
Solana (SOL) announced earlier today that South Korea’s internet-only Toss Bank will use the blockchain for global remittance and settlements. The bank has about 15 million customers who will be exposed to the SOL blockchain. The SOL network has made massive inroads in transactional innovations with faster transfers and lower fees when compared to competitors.
Solana’s (SOL) price rally also comes amid the larger crypto market finding some footing. Bitcoin (BTC) fell to the $60,000 level earlier this month, but has since reclaimed the $64,000 price level. Solana (SOL) could be following Bitcoin’s (BTC) trajectory and the recent bank partnership may have further solidified the turnaround.
While the rally is commendable, it may not be sustainable. Solana (SOL) faced a steep dip earlier this month after CPI (Consumer Price Index) numbers came in higher than anticipated. Inflation in the US hit 4.2% in May 2026, prompting the Federal Reserve to keep interest rates unchanged. Many anticipated higher rates for longer, with some expecting a rate hike later this year. Solana (SOL) and other high-risk assets could suffer due to higher interest rates.
Also Read: Can The Cryptocurrency Market Realistically Recover In 2026?
The US-Iran peace deal has also come under scrutiny after Iran opposed President Trump’s threats and Israel recent attack on Lebanon. If the peace deal does not follow through, energy markets will likely take a hit. Such a development will further push inflation. Solana (SOL) and the larger cryptocurrency market may see massive sell offs under such circumstances.