What happened?
Solana’s price prediction is growing increasingly bullish as its DeFi ecosystem sets new records. According to DeFiLlama, the total value locked (TVL) on Solana has reached an all-time high of $13.25 billion, spurred by an 18% surge in the last week alone. This has led to market optimism that Solana could rally towards the $500 mark within the next four weeks.
Who does this affect?
This affects crypto traders, Solana investors and other stakeholders within the Solana network. As Solana reserves on exchanges continue to decline, a pattern similar to Ethereum’s recent rally is emerging, suggesting trader rotation from ETH to SOL. Meanwhile, Solana treasury companies are stockpiling SOL tokens, with Galaxy Digital buying another 1.2M $SOL following a $1.65B raise announced by Forward Industries.
Why does this matter?
This matters due to the potential market impact. The surge in Solana’s TVL is signaling accelerated network growth. If the Solana price manages to overcome some key resistance levels and maintain its momentum, the next major target could be $500 in the coming weeks. This bullish outlook could influence the sentiment of both existing investors and those considering entering the Solana market.