Solana Surges Above $180: Institutional Interest and Network Growth Signal Path to $200
Currently trading at $180, Solana (SOL) has increased 6.6% over the previous 24 hours; several network indicators point to a continuous
Quick overview
- Solana (SOL) has risen 6.6% in the last 24 hours, currently trading at $180, with indicators suggesting a continued upward trend.
- The Total Value Locked (TVL) in Solana's DeFi ecosystem exceeds that of the entire Ethereum layer-2 ecosystem, with significant growth in key protocols.
- Institutional interest is growing, with upcoming Solana futures contracts in Brazil and a potential spot ETF application under review by the SEC.
- Technical analysis suggests resistance at $190–200, but if support holds above $175, SOL could reach $220–240 by mid-June.
Currently trading at $180, Solana SOL/USD has increased 6.6% over the previous 24 hours; several network indicators point to a continuous rising trend for the fifth-largest cryptocurrency by market value.
DeFi Dominance Fuels SOL Price Momentum
Solana’s $10.9 billion Total Value Locked (TVL) currently exceeds the whole Ethereum layer-2 ecosystem including Base, Arbitrum, and Optimism taken together. Key DeFi protocols on Solana have had amazing 30-day growth: Raydium DEX up 78%; Jito liquid staking up 41%; Marinade finance gains 56%.
With Solana gathering $43.4 million in fees over the past month—109% greater than the previous period and much above Ethereum’s base layer fees of $24.9 million—this increasing DeFi activity directly translates into network revenue. Given 65% of SOL tokens staked now, this rising charge generates natural upward pressure on price.
Solana’s Derivatives Show Healthy Bull Sentiment
With permanent futures funding rates now at 8%—within the neutral range of 5-10%—derivatives markets offer extra support for SOL’s positive view. Given SOL currently trades 40% below its January all-time high of $295, this suggests consistent but not too stretched leverage from bulls.
“We are seeing good accumulation instead of too much speculation,” said derivatives expert Marcus Chen.
Solana ETF: Institutional Catalysts on the Horizon
Several institutional changes could help SOL rise past $200 in the foreseeable future. While Brazil’s B3 exchange will open Solana futures contracts on June 16 following regulatory approval, the SEC is now looking over Grayscale’s application for a spot Solana ETF.
These financial solutions show up as conventional banks come to see Solana’s possibilities outside just trading cryptocurrencies. With 4,488 transactions per second, the network is especially fit for high-frequency financial applications and asset tokenizing.
SOL/USD Technical Outlook
SOL has technical resistance at the $190–200 area notwithstanding excellent foundations. Maintaining support over $175 will help Solana token to keep its optimistic momentum. Should success be achieved, analysts estimate SOL might reach $220–240 by mid-June, in line with possible ETF developments and Brazilian futures launch.
Investors should still exercise caution, meanwhile, about more general market circumstances. Although the whole crypto market has been raised by Bitcoin’s stabilization above $100,000 and Ethereum’s movement past $2,500, any setback could momentarily affect SOL’s performance.
Still, Solana’s rising acceptance and better network performance point to it still being well-positioned to outperform many rivals in the medium run, thus the road to recovering its all-time highs becomes ever more feasible over the next months.
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