Solana Surges 1.418% as Network Hits 400 Billion Transactions

Solana's latest price was $147.86, up 1.418% in the last 24 hours. This increase reflects a broader trend of recovery in the cryptocurrency market, with Solana being one of the standout performers. The network has achieved a significant milestone by surpassing 400 billion transactions, demonstrating its robust network activity and scalability. This achievement underscores Solana's high-throughput capabilities, with the network currently executing at an impressive rate of 4,262 transactions per second (TPS), and a True TPS of approximately 1,045. This benchmark significantly outperforms many Layer-1 competitors, highlighting Solana’s technological advantages. The distinction between True TPS and raw TPS illuminates actual user engagement, reinforcing the substantial inflow of capital observed recently and indicating a strong recovery in market sentiment.

On April 28th, hot capital peaked at $9.46 billion, representing the highest level observed since mid-March. This surge, amounting to a significant $4.72 billion increase within just seven days, highlights a notable turnaround in investor confidence. The current market dynamics reveal a palpable shift in younger coin bands, indicating a robust rotation and a promising speculation landscape. These trends reflect a growing willingness among investors to re-engage with the digital asset following periods of stagnation.

Solana is currently trading at a critical level that could serve as a major pivot point for either a strong bullish recovery or a continuation of the broader bearish trend. While global tensions and ongoing trade conflicts continue to weigh on investor sentiment, recent market behavior hints at a potential bounce. The broader crypto market has shown signs of resilience, and Solana has been one of the standout performers. Since early April, Solana has climbed over 58%, recovering significantly from its local low near $95. This upward movement has helped shift short-term sentiment, but the price now faces a key test at the $160 resistance level. A clean break and hold above this zone could open the door for a larger rally, potentially taking SOL toward its previous highs.

Jelle’s optimistic analysis highlights that Solana’s latest monthly candle is showing strength. According to Jelle, SOL took out all the consolidation lows and still managed to close the month back above them—typically a bullish sign. This sets the stage for a possible retest of the $240 level, a target that aligns with historical resistance and previous price action. However, failure to clear $160 could lead to renewed selling pressure, especially if global macro conditions worsen. For now, bulls must defend current levels and aim for a breakout to maintain momentum.

Solana (SOL) is currently trading after several days of struggling to break above the recent high of $157. Bulls have maintained control in the short term, but momentum appears to be fading as price action continues to stall below the key $160 resistance zone. This level remains a crucial barrier that needs to be reclaimed decisively to confirm a continuation of the uptrend. To sustain the bullish structure and avoid a deeper retracement, SOL must push through $160 and target the $180 level next. A successful move above this range would not only restore confidence but could also set the stage for a stronger recovery in the broader altcoin market. However, the longer Solana fails to break higher, the greater the risk of a pullback. If bulls lose momentum and selling pressure builds, a correction into the $130–$120 zone becomes increasingly likely. This area has previously served as a key demand zone and could offer support if tested again. For now, all eyes are on SOL’s ability to reclaim $160. The next few sessions will be critical in determining whether Solana resumes its upward trajectory or enters a consolidation and correction phase.

Solana has officially crossed 400 billion lifetime transactions, having clocked in at over 400,189,228,000 – a staggering figure that puts its high-throughput narrative on full display. The network is currently humming along at 4,262 transactions per second (TPS), with a True TPS of 1,045 — still leagues ahead of most Layer-1s. The distinction matters: True TPS filters out vote transactions and reflects actual user and dApp activity. This isn’t just noise on-chain; it’s real usage, and it backs up the recent capital inflow and market rally. On the 28th of April, hot capital — the value held by coins moved within the last 24 hours to 1 week — surged to $9.46 billion, its highest level since mid-March. That’s a $4.72 billion jump in just seven days, marking the most aggressive weekly inflow since the 23rd of January. The chart showed a clear thickening in younger coin bands, suggesting active rotation and renewed speculative appetite.

Solana is at a critical juncture, with price action suggesting a potential breakout amidst shifting market dynamics. Current trading levels show heightened activity, with the SOL price oscillating around key technical indicators. A significant observation from COINOTAG was the indication of increasing volume, suggesting heightened trader interest. This article explores Solana’s price dynamics, evaluating critical support and resistance levels to provide insights into its future trajectory. The recent milestones achieved by Solana not only illustrate its technical capabilities but also highlight the rejuvenated market sentiment towards the asset. As investor dynamics shift and inflows increase, Solana stands at a pivotal crossroads. Continued monitoring of volume trends and resistance levels will be crucial as SOL navigates its next steps in the ever-evolving crypto landscape.