Solana Tops Blockchain Revenue Charts as SOL Price Nears $200 Can the Rally Continue?

Solana has emerged as the top-performing blockchain by app revenue, generating $4.67 million within the past 24 hours, surpassing Ethereum’s $3.82 million. The data reflects an impressive uptick in on-chain activity, as Solana continues to dominate DeFi protocols, NFT markets, and meme coin trading.

Trailing behind are Hyperliquid L1 with $3.42 million, Edgex with $1.68 million, Binance Smart Chain (BSC) with $1.56 million, and Base with $1.45 million. The ranking highlights how Solana’s high-speed, low-fee architecture is yielding tangible network revenue, reinforcing its position as one of the most actively used blockchains in the current market cycle.

Rising On-Chain Activity Fuels SOL’s Price Momentum

The increase in network revenue appears to be boosting Solana’s market sentiment, with the SOL price trading near $200 after recent gains. Analysts suggest that the network’s robust revenue and usage metrics are supporting a bullish outlook, as high user activity typically drives demand for SOL tokens used in transactions and staking.

According to market observers, Solana’s consistent on-chain performance reflects sustainable ecosystem growth, not just speculative hype. The network’s combination of scalability, throughput, and developer engagement has attracted a surge of liquidity into its DeFi and NFT sectors, while trading activity around Solana-based meme coins continues to add to overall fee revenue.

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Can SOL Price Break Above $200 Resistance?

Solana (SOL) is showing renewed strength as the price rebounds toward the key $200 level, reclaiming lost momentum after a recent market correction. The bullish recovery comes alongside rising network activity and strong app revenue, reinforcing investor confidence. Traders are watching closely as SOL attempts to sustain above its short-term resistance, which could confirm a potential breakout. Meanwhile, consistent buying volume and improved sentiment suggest growing optimism that Solana may extend its upward trajectory in the coming sessions.

The SOL/USDT chart shows a strong rebound from the ascending trendline support near $184, with price now testing the $199–$203 resistance zone. Bollinger Bands indicate expanding volatility, while the price trades near the midline, hinting at a potential breakout. The 50-day SMA acts as dynamic resistance, and a close above it could accelerate gains toward $220. Volume remains moderate, and the CMF hovering around neutral suggests cautious accumulation—confirming momentum building but not yet a full bullish confirmation.

Conclusion 

Solana’s technical setup and rising network fundamentals paint a cautiously bullish outlook for the days ahead. A sustained close above $200 could trigger fresh buying momentum, potentially pushing the SOL price toward $220. However, failure to hold above the support at $184 may invite short-term profit-taking. With on-chain revenue surging and investor sentiment improving, Solana remains one of the most-watched altcoins in the crypto market today, signaling growing strength as it continues to challenge major resistance levels.

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