- Solana surged 8% to around $152 as trading volume spiked and futures interest climbed.
- On-chain activity is booming, with TVL up 25% and DEX volumes rising over 90% in 30 days.
- If SOL breaks above the $160–$200 resistance zone, a push toward $250 or even new highs could be on the table.
Solana ($SOL) is back in the spotlight today, pushing up around 8% to trade near $152, after bouncing from its April 30 low of $140. The move comes with a sharp jump in trading volume — up 35% in just a day — and a noticeable increase in futures interest, hinting at solid demand building up behind the scenes.
Futures Interest Signals Rising Demand
Open interest in Solana futures climbed 5% over the past month, now sitting at a hefty 38.7 million SOL, or roughly $5.86 billion. That puts it right behind some of the market’s top dogs. Funding rates flipped from slightly negative to mildly positive, which usually means buyers are gaining the upper hand in the market tug-of-war. That’s often a good sign for price continuation, though nothing’s guaranteed.
Network Activity Surging Again
Solana’s not just winning in the futures market — its on-chain activity is picking up big-time. TVL (that’s total value locked, for the uninitiated) has surged 25% in the last 30 days. Projects like Sanctum, Kamino, and Jito are leading the charge, bringing more liquidity into the ecosystem. Daily decentralized exchange (DEX) volumes have jumped more than 90% since mid-April, topping $3 billion.
Even more impressive? Solana’s weekly DEX activity just beat out all of Ethereum’s Layer 2 chains combined. Yeah, it’s getting serious.
V-Shaped Recovery? Maybe
Technically speaking, Solana’s been printing a textbook V-shaped recovery on the charts. If it can break through the $160–$200 resistance zone, things might get interesting. That zone is packed with sell pressure, but if the bulls power through, the next big level sits up near $250 — and beyond that, maybe even new all-time highs above $294.
For now, momentum’s pointing up, with the RSI creeping toward 50. If volume keeps flowing and the broader market behaves, $SOL might just have more gas in the tank.
