Solana Regains Momentum as Price and Ecosystem Activity Surge

Solana has staged an impressive rebound, surging past the $170 mark after a robust 11% daily move.

What separates this rally from past spikes is the accompanying surge in both user engagement and capital inflow across the ecosystem. Trading volumes are up sharply, and DeFi activity on the network is accelerating at a pace not seen in months.

Over the past month, Solana’s total value locked has grown by 25%, crossing the $8 billion threshold and trailing only Ethereum among layer-1 blockchains. Decentralized exchanges on Solana are seeing renewed life, with names like Raydium and Sanctum pulling in major liquidity and helping DEX volumes more than double since April.

Speculative interest is rising in parallel. SOL futures open interest has spiked to $5.8 billion, now the third-highest among all assets in the crypto derivatives space. That momentum has spilled into meme tokens too, where assets like Solaxy and Official Trump have ridden the wave of high-volume, low-structure trading environments to impressive short-term gains.

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Technically, SOL is tracing a sharp V-shaped recovery on weekly charts—a sign of potential long-term reversal if it can break through the key resistance band between $160 and $200. That range, which aligns with major moving averages, marks the final ceiling before a possible push toward $250 and, eventually, the all-time high of $294.

Beneath the surface, fundamentals are starting to match the price action. The relative strength index has climbed steadily from late March, while strategic investments—such as Upexi’s $100 million capital raise aimed at Solana infrastructure—signal long-term confidence.

Meanwhile, Firedancer, a high-performance validator client developed by Jump Crypto, is nearing launch. Expected to drastically increase transaction throughput, its rollout could resolve many of the network congestion issues that plagued Solana in previous cycles.

With Canada’s approval of a spot SOL ETF and U.S. expectations rising, institutional interest is building fast. This time, Solana’s breakout looks anchored by more than hype—it’s supported by deeper liquidity, stronger on-chain activity, and growing institutional buy-in.

Alexander Stefanov