Solana ($SOL ) has experienced a notable 6% surge, climbing from $159.69 to a high of $173.03, driven by a bullish reversal and heightened DeFi activity. This upward momentum is supported by significant trading volumes between the $167 and $170 range, indicating strong buyer interest.
(Crypto Adventure)
The network's DeFi ecosystem has seen substantial growth, with total value locked (TVL) surpassing $10.9 billion, outpacing Ethereum's layer-2 solutions. Additionally, Solana's decentralized exchange (DEX) volumes have expanded significantly, climbing from $18 billion to $22 billion in just one week.
(Cointelegraph)
Technical analysis reveals a "megaphone" chart pattern, suggesting potential for further gains. If SOL breaks above the $180 resistance level, it could target the $210 mark. Institutional interest is also on the rise, with significant investments and upcoming futures contracts indicating confidence in Solana's long-term prospects.
(FX Leaders)
As of now, SOL is trading at approximately $167.35, reflecting a 5.36% increase.