Solana is once again in the spotlight, surpassing Ethereum and Binance Smart Chain (BNB) in net transfer volume. According to CryptoRank, over the past 30 days, transactions worth $28.07 billion have been processed on the Solana blockchain, second only to Tether (USDT), which recorded nearly $300 billion during the same period.

Just in the last week, Solana registered an influx of capital amounting to $4.72 billion. This increased its total active capital to $9.46 billion, the highest level since March 2025.

This indicates that investor confidence is returning.

The price action of Solana also supports a bullish sentiment. Chart analyst AMCryptoAlex noted that Solana broke out of a descending wedge, a classic reversal pattern.

This breakout, backed by strong volume and momentum, suggests that the downtrend may have ended. Currently trading at around $147.59, Solana's price is targeting short-term goals in the range of $170-$180. If optimistic sentiment continues, new highs could be established as early as the third quarter.

The market capitalization of Solana currently stands at $76.4 billion, with a circulating supply of 520 million SOL.