Solana Launches DvP Infrastructure as Market Eyes Fed Rate Hikes

The Solana Foundation has launched Solana DvP (Delivery-versus-Payment), an open-source settlement infrastructure aimed at financial institutions. This system allows the asset and cash legs of a transaction to settle atomically in a single transaction, with input from J.P. Morgan. The focus is on institutional tokenization and settlement rather than speculative crypto activity.

On the macroeconomic front, the crypto market has seen some support due to a shift in Federal Reserve interest rate expectations. Recent comments from Fed officials Williams and Jefferson pushed back against an October rate hike, and a softer-than-expected US nonfarm payrolls (NFP) report further reduced the likelihood of near-term Fed action. Traders now price only a 21% chance of a hike in October. With a light economic calendar this week, attention will likely remain on US-Iran developments, which could significantly impact oil prices and, consequently, crypto sentiment.

Technically, Solana (SOL) is consolidating near recent highs. On the daily chart, a major upward trendline remains a key support level. Buyers are targeting the 149.00 level, while sellers look for a break lower to extend the correction into the 97.00 support. On the 4-hour chart, a minor support zone around 117.00 could see buyers stepping in to push prices higher. The 1-hour chart shows a minor downward trendline defining the current pullback.

Upcoming catalysts include the FOMC meeting minutes tomorrow, US Jobless Claims figures on Thursday, and the University of Michigan Consumer Sentiment survey on Friday.