SOL$SOL's On-Chain Surge Hints at more potential growth ahead 🔥🚀
Solana has surged nearly 25% since May 6, driven by strong on-chain activity and DeFi momentum. With $10.9B in total value locked—outpacing all Ethereum L2s combined—Solana now ranks second in TVL across all blockchains. Key DeFi platforms like Raydium, Jito, and Marinade have posted major growth.
Fee revenue is also climbing, with Solana generating $43.3M in 30 days—more than Ethereum L1. This signals growing demand for SOL, supported by 65% of its supply staked. Perpetual funding rates remain healthy, suggesting steady bullish sentiment.
While SOL still trades 40% below its ATH, rising usage, staking, and possible catalysts—like a U.S. spot ETF—could push SOL toward the $200 mark.
