Solana (SOL) is emerging as a standout player in the blockchain world. It’s focused on making smart contracts scalable, and in recent months, it’s been gaining momentum, gearing up for what could be a remarkable surge. With a valuation of around $109 billion, Solana seems poised for a breakthrough to reach a new all-time high (ATH).
Recent data from the crypto market shows that SOL’s price is getting closer to its ATH, currently hovering at about $190 during the mid-London session, just 26 percent away from its peak.
The Solana network has grown to a major web3 hub with about $4.8 billion in total value locked (TVL) and nearly $3 billion in stablecoins market cap. Despite the Ethereum (ETH) network remaining the undisputed web3 leader, the Solana network has recorded heightened on-chain activity emanating from its DeFi protocols.
A deeper dive into Solana’s on-chain activity reveals a thriving ecosystem. Market data from Defillama indicates an average trading volume of around $1.2 billion within Solana’s web3 ecosystem, highlighting its growing importance in the crypto world.
Meme Mania All Around!
Driving this surge in on-chain activity is the frenzy around meme coins like dogwifhat (WIF), Bonk (BONK), and cat in a dogs world (MEW). These meme coins have injected over $45 million in SOL liquidity, further boosting Solana’s momentum.
As March came to a positive close, Solana bulls are feeling optimistic about the weeks ahead. Analysis of weekly and daily time frames reveals an ascending triangle in SOL’s price against the US dollar, suggesting a potential bullish breakout.
What Next?
If SOL manages to break the resistance at $205, it could trigger a rally towards the liquidity range between $218 and $230. This critical point aligns with the 0.5 and 0.618 daily Fibonacci Extension levels, indicating the potential for a bullish surge.
Also Check Out: Top Memecoins Preparing for an Explosive 100% Rally in April
As market sentiment shifts and fresh momentum builds across digital assets, June 2025 presents a…
When Bitcoin first emerged, its fixed 21 million supply was mocked. Today, that scarcity has…
Singapore’s financial authority announces that unlicensed crypto firms operating overseas after June 30 will be…
On May 27, 2025, US President’s crypto czar, David Sacks, says there is a pathway…
Hackers used Monero to move stolen Bitcoin, pushing XMR up 24 percent to $269. But…
Pakistan has allocated 2,000 megawatts (MW) of electricity to fuel Bitcoin mining and artificial intelligence…
