Solana

Nansen

April

Solana is back in breakout mode. The high-speed blockchain surged to $167 this week—its highest level since May 29—as trading volume soared, network activity exploded, and investor appetite for Solana-focused ETFs intensified. With transactions outpacing Ethereum, meme coins doubling in market cap, and a golden technical setup forming, Solana is once again commanding center stage in the crypto rally.Solana’s (<a href="https://crypto.news/price/solana/" rel="noopener noreferrer nofollow">SOL</a>) rally occurred in a high-volume environment, with the 24-hour figure jumping to over $6.17 billion.&nbsp;As the overall industry’s market capitalization exceeds $3.6 trillion, the number of Solana transactions in the network increased by 32% over the last seven days to 590 million. Its transaction count was much higher than other top blockchains like Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>), Binance Coin (<a href="https://crypto.news/price/bnb/" rel="noopener noreferrer nofollow">BNB</a>), and Sui (<a href="https://crypto.news/price/sui/" rel="noopener noreferrer nofollow">SUI</a>), combined.&nbsp;Solana’s active addresses jumped by 5.3% to 24.3 million, while the amount of fees generated jumped by 44% to $7.6 million. Its 30-day transaction count soared to over 2.1 billion.&nbsp;<figure class="wp-block-image size-full"><img width="2430" height="724" src="https://crypto.news/app/uploads/2025/07/Screenshot-2025-07-12-at-10.37.59 AM.png" alt="Top blockchains ranked by transactions and active addresses" class="wp-image-14396303"><figcaption class="wp-element-caption"> Top blockchains ranked by transactions and active addresses | Source: <a href="https://app.nansen.ai/macro/blockchains" rel="noopener noreferrer nofollow">Nansen</a></figcaption></figure>You might also like: <a href="https://crypto.news/aave-gains-18-weekly-amid-ecosystem-growth-stablecoin-dominance/" rel="noopener noreferrer nofollow"> Aave gains 18% weekly amid ecosystem growth, stablecoin dominance </a>Meanwhile, the recently launched REX-Osprey SOL + Staking ETF continues gaining traction among investors as its assets have jumped. Its assets stood at over $72 million by Thursday, a good amount for a two-week ETF.&nbsp;The main benefit for the SSK ETF is that it offers an exposure to Solana and its accompanying staking rewards. StakingRewards <a href="https://www.stakingrewards.com/assets/proof-of-stake" rel="noopener noreferrer nofollow">data</a>shows that Solana stakers receive a yield of about 7.5%.&nbsp;Solana also jumped as its ecosystem did well, with its meme coins gaining traction. The market capitalization of all these coins has jumped to over $12.4 billion from the April low of $6 billion.&nbsp;Further, Solana’s stablecoin <a href="https://app.artemisanalytics.com/asset/solana?from=chains&amp;tab=stablecoins" rel="noopener noreferrer nofollow">supply</a> stood at $10.7 billion, while its addresses pumped by 15% to 3.4 million. The number of transactions and adjusted volume rose by 29% and 45%, respectively.<h2 class="wp-block-heading" id="solana-price-technical-analysis">Solana price technical analysis</h2><figure class="wp-block-image size-full"><img width="3574" height="1988" src="https://crypto.news/app/uploads/2025/07/Solana-Price.png" alt="Solana price" class="wp-image-14396302"><figcaption class="wp-element-caption"> SOL price chart | Source: <a href="https://crypto.news/price/solana/" rel="noopener noreferrer nofollow">crypto.news</a></figcaption></figure>The daily timeframe chart shows that the SOL price bottomed at $94.3 in April and then bounced back. It moved to the top of the trading range of the Murrey Math Lines at $162.The Solana price jumped above the 50-day and 200-day moving averages, as well as the 23.6% Fibonacci Retracement level. It has also moved above the ascending trendline that connects the lowest point in April and June.&nbsp;Therefore, the token will likely continue rising as bulls target the key point at $187, the highest point in May. This target is about 15% above the current level. A break above that level will point to more gains, potentially to the Murrey Math Lines ultimate resistance at $200.&nbsp;Read more: <a href="https://crypto.news/bitcoins-breakout-isnt-about-the-fed-its-about-market-structure-analysts/" rel="noopener noreferrer nofollow"> Bitcoin’s breakout isn’t about the Fed, it’s about market structure: analysts </a>

Solana rallies to highest level since May: Here’s where investor appetite stands

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