Solana's SOL Token Surges 8% to $150 on Network Activity Boost
1min read SOL, the native token of the Solana blockchain, has surged past $150 with an 8% jump, driven by a significant increase in network activity and bullish chart signals. The total value locked (TVL) in the Solana ecosystem has risen by 25% over the past month, with decentralized exchange (DEX) volumes nearly doubling. This surge in activity has been particularly notable on platforms like Sanctum and Raydium, which have seen substantial increases in deposits and trading volumes.
The momentum in the Solana ecosystem is not just limited to trading activity. The total value locked has crossed $8 billion, making it the second-largest layer-1 chain after Ethereum. This increase in TVL is led by platforms such as Sanctum, which saw a 40% jump in deposits, along with other protocols like Kamino, Jito, and Jupiter. The daily DEX volume on Solana has more than doubled since mid-April, reaching $3.14 billion, and the network handled $21.6 billion in decentralized exchange activity over the last week, surpassing the combined total of Ethereum’s L2 ecosystem.
From a technical perspective, SOL has been charting a V-shaped recovery on the weekly chart since January. This pattern typically signals a bullish reversal and is currently trading just under the key resistance zone between $160 and $200. If SOL can push through this zone with conviction, it could open a clear path toward $250, marking the neckline of the formation and potentially leading to a move toward all-time highs above $294. The relative strength index, which measures the speed and change of price movements, has climbed from 36 at the end of March to 47, indicating growing momentum.
Institutional interest in SOL is also on the rise. Canada’s approval of a spot SOL ETF has paved the way for deeper capital flows, and expectations around a U.S. listing are building. Additionally, Upexi’s $100 million raise, with a focus on building Solana treasury infrastructure, reflects a broader shift from short-term positioning to strategic asset exposure. At the protocol level, Firedancer, a new validator client built by Jump Crypto, is nearing rollout. This client is designed to push throughput to 1 million transactions per second, addressing the bottlenecks that have slowed Solana in prior cycles. With rising TVL and deeper on-chain activity, the next leg up for SOL is backed by real structure, not just speculation.
