Panda Traders
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Is Solana Ready to Rally? Surging Network Activity Sparks $250 Price Forecast
Following Bitcoin’s historic breakout beyond $100,000, altcoins are riding the momentum—and Solana is among the standout performers. Over the past month, $SOL has climbed 29%, although it's currently facing resistance around the $180 mark. Still, both on-chain metrics and derivatives market data suggest the potential for continued upward movement.
Now ranked sixth by market cap, Solana is solidifying its role in decentralized finance. According to DeFiLlama, the total value locked (TVL) on the network has reached $9.136 billion, reflecting increased investor confidence and platform utility.
Unlike many other networks with minimal fees, Solana's rising transaction costs are translating into notable revenue gains. In the past 30 days, Solana generated $24.9 million in base fees, surpassing Ethereum, though it still trails behind Tron’s $51.9 million. This uptick in DApp usage has pushed Solana’s profitability to three-month highs.
Another bullish factor is the token’s supply dynamics. With roughly 65% of SOL locked in staking contracts, the circulating supply remains relatively tight—an encouraging signal for long-term price appreciation. Meanwhile, perpetual futures show an 8% funding rate, indicating a cautiously optimistic sentiment among leveraged traders.
Despite still trading over 40% below its all-time high of $295 (set in January 2022), Solana is showing signs of a breakout. Analysts point to institutional accumulation and a bullish falling wedge pattern forming on the charts, suggesting a potential move toward the $200–$250 range in the near future.
$SOL
#Write2Earn! #SolanaStrong #solana #CryptoRegulation #CryptoRegulation
Following Bitcoin’s historic breakout beyond $100,000, altcoins are riding the momentum—and Solana is among the standout performers. Over the past month, $SOL has climbed 29%, although it's currently facing resistance around the $180 mark. Still, both on-chain metrics and derivatives market data suggest the potential for continued upward movement.
Now ranked sixth by market cap, Solana is solidifying its role in decentralized finance. According to DeFiLlama, the total value locked (TVL) on the network has reached $9.136 billion, reflecting increased investor confidence and platform utility.
Unlike many other networks with minimal fees, Solana's rising transaction costs are translating into notable revenue gains. In the past 30 days, Solana generated $24.9 million in base fees, surpassing Ethereum, though it still trails behind Tron’s $51.9 million. This uptick in DApp usage has pushed Solana’s profitability to three-month highs.
Another bullish factor is the token’s supply dynamics. With roughly 65% of SOL locked in staking contracts, the circulating supply remains relatively tight—an encouraging signal for long-term price appreciation. Meanwhile, perpetual futures show an 8% funding rate, indicating a cautiously optimistic sentiment among leveraged traders.
Despite still trading over 40% below its all-time high of $295 (set in January 2022), Solana is showing signs of a breakout. Analysts point to institutional accumulation and a bullish falling wedge pattern forming on the charts, suggesting a potential move toward the $200–$250 range in the near future.
$SOL
#Write2Earn! #SolanaStrong #solana #CryptoRegulation #CryptoRegulation
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.