Solana (SOL) has seen a significant increase in activity on its blockchain, driven primarily by the OFFICIAL TRUMP (TRUMP) token, which has seen the network’s active addresses surpass Ethereum’s by 26 times. This growth highlights Solana’s scalability and efficiency, making it an attractive option for investors and developers.
SOL’s MVRV ratio is at 1.80, suggesting a potential stabilization before further highs. Solana is currently priced at $253, with strong support at $241. If the cryptocurrency manages to flip the $270 resistance into support, it could reach a new all-time high of $300. However, a failure to break this could result in a drop to $241 or even $221.
SOL’s trajectory depends on continued growth of its network and sustainable buying pressure to maintain its bullish momentum.
