The price of Solana $SOL is up 29% in the last month, riding the wave of a broader altcoin rally following Bitcoin’s landmark move past $100,000.
Although SOL has since faced resistance near the $180 mark, both derivatives market activity and onchain data indicare the potential for continued upward movement.
Despite being the fifth-largest crypto asset by market cap, Solana is emerging as a powerhouse in decentralized finance. Its total value locked (TVL) now stands at $9.136 billion, according to DeFiLlama figures.
Unlike some blockchain networks with minimal fee structures, Solana’s rising transaction costs are translating into higher revenue, which bolsters SOL’s appeal. According to DefiLlama, Solana generated $43.3 million in base fees over 30 days, outpacing Ethereum’s $24.9 million but trailing Tron’s $51.9 million. This uptick in DApp revenue and chain usage is pushing SOL toward three-month highs in network earnings.
With roughly 65% of SOL locked in staking contracts, the token benefits from a constrained circulating supply — a bullish factor for price appreciation. The current perpetual futures funding rate sits at 8%, indicating moderate bullish sentiment among leveraged traders without suggesting over-exuberance.
Though Solana remains more than 40% below its all-time price high of $295 (set in January 2022), momentum continues to build. Analysts believe a rally toward $200 is within reach, especially with growing institutional interest. This is supported by a bullish falling wedge pattern formed by the green support and red resistance lines on the chart below, often a precursor to an explosive rally.
Speculative catalysts include potential approval of a spot Solana ETF in the U.S., state-level crypto reserve adoption, and increasing use cases in asset tokenization. While no single trigger has emerged yet, the broader fundamentals indicate Solana may be primed for another leg upward.
As Solana Price Hype Grows, Investors Flock to the Network’s First Layer 2 Protocol Token Before it Hits Exchanges
Solaxy ($SOLX) is making waves in the Solana ecosystem as the platform’s inaugural Layer 2 scaling solution.
Aiming to boost transaction speed, lower gas fees, and ease network congestion, Solaxy paves the way for a speedier and cheaper network.
Similar to Layer 2 protocols on Ethereum, Solaxy validates transactions on a secondary layer at higher speeds before adding them to the distributed ledger on the first layer.
The platform also features full Ethereum compatibility, enabling cross-chain liquidity and expanding its functionality within the wider DeFi landscape.
Currently, SOLX tokens are available in a presale phase at a locked-in price of $0.001726, with gradual increases anticipated as the sale advances.
Potential approval of Solana-based spot ETFs by the U.S. SEC could significantly boost interest and demand for Solaxy ($SOLX), which could lead to explosive Solana and Solaxy price rallies.
With more than $36.3 million already secured in funding, it’s evident that large investors are heavily investing in SOLX. Staking rewards of 112% APY offer a further incentive to get in during the presale.
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