$SOL
As of May 6, 2025, Solana (SOL) is trading at approximately $145.20, reflecting a slight daily decline of about 1.7%. The price has fluctuated between an intraday high of $147.52 and a low of $142.81. This movement aligns with broader market caution ahead of key U.S. economic data releases and the Federal Open Market Committee (FOMC) meeting.
In a significant development, Justin Sun announced a new cross-chain integration between Bitcoin and Solana, enhancing liquidity and potentially reducing transaction fees for BTC transfers on Solana's high-performance network. Additionally, Solana's network activity and Total Value Locked (TVL) have been on the rise, indicating growing investor confidence.
Analysts suggest that if SOL can break through the $180 resistance level, it may pave the way for further gains, potentially reaching $221. However, some caution that high fee generation figures may be misleading due to declining active addresses and negative net flows.
