Solana’s price remained steady this week, climbing to $135 on Friday—up over 40% from its monthly low. This rally pushed its market cap near $70 billion, fueled by a sharp rise in user activity and network fees.
🔁 Solana Overtakes Ethereum in DEX Volume
Trading on Solana’s decentralized exchanges (DEXs) continues to accelerate.
According to DeFi Llama, Solana’s 24-hour DEX volume hit $2.27 billion, surpassing Ethereum’s $1.52 billion.
Its weekly DEX volume reached $16.14 billion, beating out:
- Ethereum at $12.36 billion
- BSC at $6.5 billion
This growth highlights Solana’s strength as a DeFi hub.
👥 Active Users and Transactions Are Soaring
Data from Nansen reveals a 17% jump in active addresses, now at 29 million.
For comparison:
- Tron: 5.9 million
- Ethereum: 1.86 million
- BSC: 4.9 million
Solana also led in total network transactions, hitting 374 million—more than all other major blockchains combined. Network fees surged to $7.67 million, up 42% from last week.
🌐 Solana Ecosystem Tokens Also Climbing
Solana-based tokens are benefiting from the increased activity:
- Pudgy Penguins token rose by 12%
- Popcat jumped by 10%
Additionally, Janover, a U.S. real estate tech firm, has been accumulating SOL. It recently bought $10 million worth, bringing its total holdings to $21 million.
🧠 Solana Price Technical Analysis
Solana’s price bottomed at $94.65 earlier this month before rebounding to the current $135. It has consistently held above $120, a key support level since early 2024.
Technical indicators show bullish momentum:
- The MACD is nearing a bullish crossover above the zero line.
- The Relative Strength Index (RSI) has moved above 50, signaling positive momentum.
If this strength continues, SOL may test $150, a key psychological barrier. Beyond that, it could aim for $170, the year’s previous high. However, a drop below $120 would challenge the current bullish setup.
🚀 Final Thoughts
Solana is clearly gaining momentum—not just in price, but in user adoption, transaction activity, and ecosystem growth. With rising institutional interest and technical strength, the blockchain is well-positioned for a continued rally.
