The Solana network has seen a surge in user demand and network inflows, pushing the total distributed finance (DEFI) value locked (TVL) to an all-time high of over $13 billion.
As purchasing activity grows, Sol’s prices have risen by almost 25% over the past week. The current question is whether this wave of network growth is sufficient to bring Altcoin back to record price levels.
Sponsored Sponsors
As user activity surges, from solana defi tvl rocket to ass
According to Defilama, Solana’s Defi TVL was a record high of $13.38 billion, rocking 18% last week.
About Token TA and Market Updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s daily crypto newsletter.
According to Defilama, Solana’s Defi TVL is currently at an all-time high of $13.38 billion, marking 18% rockets in the past week. This surge is a clear marker of increased capital inflow into Solana’s defi protocol, a trend that can only be maintained in the event of increased user demand and activity on the chain.
More users, more transactions: Solana’s network momentum builds
Artemis data confirms this trend and shows that Solana experienced an increase in daily active addresses and transactions. According to on-chain data providers, the number of daily active addresses involved in at least one SOL transaction, for example, has increased by 37% over the past week.
The increase in users was directly converted to higher activity as the number of daily transactions on the network rose by 17% over the same period.
Sponsored Sponsors
The increased user demand for networks in this way indicates stronger trust in ecosystems and deeper utilities for native assets.
As the Solana Network shows strength, attention is focused on how these profits are reflected in Sol’s market performance.
Will Solana be able to get back ATH after $270?
Sol has grown 22% over the past week and is currently trading at $246.91. Measurements from the uptrend Chaikin Money Flow (CMF) highlight the strong demand in favour of the rally. At pressing, this momentum indicator is 0.23.
The CMF indicator measures how an asset enters and leaves the asset. A positive CMF read shows that buying pressure will outweigh sales pressure and strengthen bullish prospects.
Sol’s CMF at 0.22 shows that capital inflows continue to support the assembly firmly. If momentum continues, the coin could extend its profits towards $270.18, with successful breaks above that level going to course to regain an all-time high of $295.83.
However, if demand drops and inflows slow, SOL risks losing ground, with a potential downside of $219.21.
