SOL Surges in DeFi Growth as Trading Volume Hits $3.16B Despite Recent Price Dip

Solana (SOL) has seen increased activity on Binance, with trading, staking, and educational opportunities available. Over the past month, the network’s total value locked in DeFi rose by 28%, and stablecoin volume grew 145% year-over-year, signaling robust ecosystem growth.

SOL is currently trading at approximately 162.57 USDT, reflecting a 24-hour price decline of around 6% and a weekly drop of about 2%. The 24-hour trading volume stands at $3.16 billion, with a market capitalization of $66.6 billion and a circulating supply of 516.2 million SOL. The price remains about 43% below its all-time high of 295.83 USDT set in January 2025, indicating ongoing market volatility.

The recent price decline is attributed to mixed price action, with SOL experiencing a drop to a 24-hour low of $147.35 after facing resistance at $154.21. Despite this, technical analysis highlights the formation of a bullish pattern supported by the 7-day and 99-day moving averages, suggesting potential upward momentum if current support levels hold. Strong trading volumes and continued ecosystem growth are contributing to sustained market interest, even as short-term volatility persists.