Solana (SOL) is showing strong resilience in the crypto market, maintaining key support levels while experiencing a surge in network activity. The blockchain is currently processing nearly 67 million daily transactions,highlighting its growing adoption and utility in the Web3 space, Solana Holds Monthly Support As Network Activity Grows – Time For A Breakout?
Meanwhile, Solana’s Total Value Locked has skyrocketed to $8.6 billion, marking a 486% year-over-year increase. This positions Solana as the second-largest blockchain in terms of TVL, surpassing Tron. The rise in decentralized finance (DeFi) activity, particularly through leading DEXs like Raydium and Jupiter, has been a major catalyst for this growth, Solana Total Value Locked Shatters $8,600,000,000 in Q4 2024, Surging 486% in One Year:
On the price front, Solana is currently trading around $210, holding critical support levels. Analysts suggest that a breakout above $225 and $240 could push SOL into new bullish territory, while failure to break these levels might keep it range-bound, Solana Holds Monthly Support As Network Activity Grows – Time For A Breakout?
With a robust DeFi ecosystem, increasing institutional interest, and high transaction volumes, Solana continues to cement its place as a dominant player in the blockchain industry. Are you bullish or bearish on SOL’s next move? Let’s discuss! 👇💬