Solana Price Set for 25% Upsurge Amid Strong Fundamentals

2 min

Solana's price has been in correction since mid-January, following a peak near $293. Currently, it has a fully diluted valuation of approximately $117 billion and a 24-hour trading volume around $3.3 billion. It has tested support above $176 three times since November 2024.

Key points:

Solana broke out of a falling trend; a potential rally of 25% towards $240-$250 is forecasted.
Continuous formation of higher highs and lows may lead to a bullish breakout.
If the support level of $176 is breached, SOL could find support above $120.

Network Fundamentals

The Solana network shows growth post-FTX collapse, with:

Total value locked at about $9.36 billion.
Stablecoins market cap around $12.5 billion.
4.94 million active addresses and daily revenue of about $2.64 million.
DeFi protocols generated 24-hour revenue of approximately $12.75 million.

Solana’s average transaction fees have surpassed Ethereum since January 9, 2025, though its market dominance has weakened recently.

BNB has overtaken SOL, with BNB rising over 15% in the past week to around $669. BNB's market cap now exceeds Solana's by $2 billion, with a trading volume difference of $1.5 billion.

Institutional interest in Solana remains strong, evidenced by multiple filings for spot SOL ETFs from firms like Grayscale Investments and VanEck.