Solana on the rise: discover important price brands and new investments!

Solana on the rise: discover important price brands and new investments!

Solana (SOL) has recorded a notable price increase of around 4 percent in the last 24 hours, making it the strongest coin in the top 10. In the past seven days, the price has increased by 7.5 percent, while other cryptocurrencies are stagnating or correcting. Solana’s price is currently at just under $140, close to the resistance at $144. Important price zones for Solana are the support at $129 and the resistance at $144. Technical analyst Ali Martinez highlights that a breakout above or below these levels could signal a new trend direction. Analyst Umar Farooq also reports a bullish signal that emerged after a breakout from a falling wedge, supported by a rising MACD and positive divergence since March.

In the first quarter of 2025, Solana generated revenue of $819 million, exceeding the revenue of all other Layer 1 and Layer 2 blockchains combined. Despite these successes, Solana has shown weaknesses under high network loads. In order to address these, Solaxy introduced a Layer 2 solution for Solana that leverages rollup technology to reduce load on the mainnet and increase efficiency. This solution will be able to process up to 10,000 transactions per second. A dedicated block explorer for Layer 2 transactions will be announced in April, while the presale of the SOLX token is already underway and ETH, SOL, BNB and USDT will be accepted. Staking the SOLX token is possible with up to 135 percent APY.

Capital inflow and ETF introduction

In the last 30 days, Solana has seen significant capital inflows of over $120 million, with the largest amounts coming from Ethereum ($41.5 million) and Arbitrum ($37.3 million). This inflow follows a $485 million outflow caused by the LIBRA-Memecoin scandal. The price bounced off the 50-day EMA at around $140. Furthermore, a daily close above $147 suggests that the downtrend could be ended, which would allow a target of $190. The RSI has broken through a downward line, indicating a possible recovery.

Spot Solana ETFs were also launched on the Toronto Stock Exchange on April 16. These ETFs purchase real SOL tokens and put a portion of them into staking. The approval from the Ontario Securities Commission has attracted interest from institutional investors. In March, the Solana network generated $46 million in fees, while April has already raised $22 million so far. Janover Inc. has partnered with BitGo to expand Solana holdings. This partnership focuses on locked SOL tokens that can generate returns through staking. Currently, Janover holds $21.2 million worth of Solana tokens and plans to further expand this position while Janover's next earnings report is expected on May 7, 2025.

For more information on this topic please visit Crypto Magazine as well as Finance.net.