Solana Price Faces Crucial Test as Bybit Unveils New App

Key Insights:

• Solana price traded at $143.99 after breaking below $148 support, with $140 as the next key level.
• Bybit launches Byreal DEX on Solana, using RFQ and CLMM to combine CEX liquidity with DeFi transparency.
• Solana options volume surged 46% while spot volume dropped 28%, signaling rising volatility expectations.

Solana price is navigating a key turning point, as discussions are soaring on the future trajectory of the coin. As its SOL price tests the $140 support zone, a major centralized exchange is shifting gears.

Bybit, one of the largest crypto exchanges, has announced the launch of its first decentralized exchange (DEX), Byreal. The new DEX will go live on the Solana blockchain, bringing more attention to the network as market sentiment weakens.

The timing of this move could influence Solana’s short-term future.

Byreal Launchpad and Solana’s Growing DEX Ecosystem

Bybit has officially announced the launch of its first decentralized exchange, Byreal, marking its entry into the DeFi space. Built on the Solana network, Byreal aims to merge centralized exchange (CEX) liquidity with the transparency and accessibility of decentralized finance.

According to Bybit CEO Ben Zhou, the platform is “not just another DEX,” but a hybrid system powered by Request for Quotation (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing. This model is designed to reduce slippage, improve trade execution, and offer protection against MEV (Miner Extractable Value).

One of Byreal’s core features is a fair launchpad supported by the Fairshare Engine and Smart Price Ladder. This system limits early domination by large buyers and promotes equal opportunity for all participants in token sales.

The concept directly responds to issues observed on Solana-based platforms like Pump.fun, which has faced criticism for its role in meme coin speculation and high user losses.

Byreal will also support bbSOL, a new liquid staking token built in collaboration with Solana-native protocols. The testnet is set for June 30, with the mainnet launch planned for Q3 2025. As Solana maintains its position as the second-largest DEX ecosystem by volume, Byreal could strengthen its on-chain trading environment.

Solana Market Sees High Options Activity as Spot Volume Drops

While Byreal prepares to go live, Solana’s price chart shows signs of growing market uncertainty. The current SOL/USD price is $143.99, down 3.14% in the last 24 hours. Technical indicators on the daily chart reveal that SOL has broken below the $148–$150 support zone, and it now trades near the $140 mark, which is a key psychological level.

Market data shows that total trading volume, including both spot and derivatives, has dropped to $7.90 billion, a decrease of nearly 28%. However, options trading is increasing, with volume up by 46% and open interest growing by 32%. This indicates that traders expect larger moves and are positioning for increased volatility.

Although long/short ratios show a strong bias towards long positions, the price continues to trend lower. More than twice as many positions are long compared to short on major exchanges. This creates risk, as a break below $140 could trigger large-scale liquidations of long positions.

Solana Price Breaks Key Support, Trading Near $140 Level

SOL is trading at $143.99 on Coinbase, down 3.14% for the day. Technical analyst Ali Chart observes that Solana has achieved a definite bearish trend in its daily chart, characterised by lower highs at $176 and $160, and lower lows at around $140.

The recent rejection of the resistance at the level of $160 confirmed the seller power, and the 9-day EMA remains to trend down, which would represent a form of dynamic resistance.

The decline beneath the main support area of $148 and $150 was further confirmed by a large red body and which marked rising selling pressure. SOL has recently been trading slightly below the psychologically important $140 mark, which provided short-term uptrends earlier. However, constant penetration of such a level has diluted its strength.

However, if  $SOL breaks down at the price of $140 as support, this may trigger lower declines down to $128, $124, and even $100, of course, except in the event of no solid bases of demand beyond. A daily close below $140 would confirm this protruding risk according to Ali Chart.