Solmate Launches in UAE as Analysts Eye Solana’s $238 Pivot

Marco Santori, former Kraken CLO, announced the launch of Solmate, a new Solana infrastructure company in the UAE, where he will serve as CEO. Santori said Solmate is aligned with the Solana Foundation, backed by UAE investors, and supported by Ark Invest through a rare DAT PIPE investment. He positioned the company as a digital asset treasury (DAT) and crypto infrastructure firm focused on long-term SOL-per-share growth.

Calling DATs “capital accumulation machines,” Santori emphasized that the UAE is the “Capitol of Capital.” Solmate’s sponsors include Pulsar Group, giving the firm a strong fiat-to-crypto fundraising base. Operationally, Solmate will partner with RockawayX to expand staking infrastructure, with Viktor Fischer joining the board. Plans also include bare-metal validators in Abu Dhabi for high-performance staking. Santori framed Solana as the “fastest, most used blockchain,” contrasting it with Ethereum and closing with: “I’m all in on it.”

Meanwhile, Solana’s price action is drawing attention. Analyst Rekt Capital noted that SOL has broken a long-term downtrend and is retesting $238, a former resistance now turning into support. A successful retest could confirm a bullish breakout toward all-time highs. Trader Kaleo added that “$1,000+ SOL isn’t a meme,” pointing to long-term upside potential.

CoinDesk data between Sept. 17–18, 2025, showed SOL rising from $233.78 to $250.59 (+7.2%). Buyers stepped in at ~$245, while sellers capped gains near ~$253. Key levels to watch: support at $245 and $238, and resistance at $253 and $260. Holding above $238 keeps the breakout intact, while a close over $253 could target $255–$260.