The World Series of Poker (WSOP) is integrating Solana payments for tournament buy-ins, allowing players to transact using cryptocurrency through the MoonPay platform. The rollout of this feature is scheduled to begin during this year’s WSOP event in Las Vegas, with no processing fees for players involved.
This partnership aims to streamline payments for international participants, as the WSOP attracts a diverse global audience suitable for cross-border transactions. WSOP CEO Ty Stewart stated that enhancing the consumer experience is crucial for the adoption of cryptocurrency in gaming.
Additionally, the WSOP event in Paradise, Bahamas, will enable winners to select stablecoin payouts on Solana. This initiative expands Solana’s utility from mere entry payments to tournament settlements.
Despite the strong adoption news, Solana’s market performance remains under pressure. The cryptocurrency is currently trading around $64.67, falling short of key technical levels, including the upper Bollinger Band near $67.88 and the 50-day exponential moving average (EMA) at $68.26.
The 200-day EMA is positioned near $78.19, representing significant overhead resistance. A MACD golden cross indicates a potential recovery in momentum, yet the relative strength index (RSI) remains at 44, suggesting insufficient buying strength to drive a significant price increase.
Traders are also monitoring lower support around $63.31. If this support level holds, there may be an opportunity for Solana to rebound toward $72 and potentially reach the $77 level, contingent on a confirmed TD Sequential buy signal.
In addition to payment integration, Kalshi has introduced SOL perpetuals as regulated crypto derivatives in the United States. These contracts will provide traders with innovative methods for tracking the price of Solana and hedging against market fluctuations.
SOL perpetuals differ from standard futures, as they do not have a fixed expiration date and can remain open with adequate margin and funding. This new trading option could stimulate institutional interest in Solana, although the leverage associated with these contracts carries a risk of amplified losses during volatile market conditions.
Analysts are debating whether the price of Solana has hit a short-term exhaustion point. Ali Martinez noted a TD Sequential buy signal on Solana’s three-day chart, which suggests a decrease in selling pressure. Confirmation of this signal could support a price movement toward the $77 target; however, a drop below the $60 support area would raise concerns for bullish trends.
