Solana just lit up the crypto charts. The Layer 1 powerhouse stormed past the $190 mark and now trades at $191.10 USD, posting a strong 6.25% gain in the past 24 hours.
Trading volume soared to $8.18 billion, and its market cap cracked $102.82 billion, cementing Solana’s place among the crypto elite.
Bitcoin and Ethereum laid the groundwork. Bitcoin is quietly holding steady at $118,773, with a massive $2.36 trillion market cap. Ethereum remains strong at $3,781.27, backed by a $455 billion cap. But among altcoins, Solana caught the brightest spark,and it lit up fast.
Short Squeeze Frenzy: $11M Liquidated
The rally wasn’t without casualties. Over $11 million in short positions were liquidated as SOL surged through $191. The biggest single liquidation? A $1.13 million position torched at $188. Bears didn’t just bleed,they were blindsided. Funding rates flipped aggressive. Margin calls rang out across major exchanges. The message was clear: don’t fade Solana when it’s on a tear.
Inflows Accelerate as Institutions Circle
Investor interest surged alongside the price. Solana-based investment vehicles,from ETPs to ETFs,saw $39.1 million in net inflows last week. While Bitcoin-focused products dominated the spotlight with $2.19 billion in inflows, Solana’s slice of the pie is growing fast. The demand for smart contract ecosystems is real,and rising.
Liquidity Deepens, Ecosystem Glows
Exchanges saw order books swell as buyers stacked up walls at key levels. Solana’s $8.18 billion turnover was one of the highest in recent memory. On-chain metrics followed the price:
- Daily active addresses surged
- Network fees ticked up
- Developer commits increased
The Solana ecosystem didn’t just rally,it activated.
Social Media Erupts
The crypto community noticed.
- CryptoRank tracked the action
- SolanaFloor shows the liquidations
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Biggest blow-ups? Right here as well
Feeds were filled with liquidation charts, bullish takes, and whale sightings. The buzz is back.
Technicals Say: $200 in Sight for SOL?
SOL blasted through the $180 resistance with confidence. Momentum indicators now flash bullish:
- RSI remains strong
- Moving averages have flipped to support
- Trendlines slope upward
Eyes are now locked on the next milestone: $200. But seasoned traders are also watching support zones around $175 and $160, just in case the rally takes a breather.
Macro Backdrop: Crypto’s Risk-On Mood
The bigger picture helps too. Bitcoin stays strong above $118K. Ethereum is firm around $3,800. U.S. regulators are softening tone on ETF approvals. Risk appetite is cautiously returning to markets. Traditional capital is sniffing around crypto again,and Solana’s performance is hard to ignore.
Fundamentals: Fast, Cheap, and Busy
Solana continues to flex:
- Processes 50,000+ TPS
- Average fees below $0.01
- DeFi volume is climbing
- NFT activity is resurgent
New projects launch daily. The chain’s momentum isn’t just price-driven,it’s usage-driven.
Whales Accumulate Solana, Exchanges Drain
Whale wallets are swelling. The number of addresses holding 1,000+ SOL increased last week. At the same time, exchange reserves dropped, pointing to accumulation and long-term conviction. Supply is quietly drying up on trading platforms.
Solana’s breakout isn’t just a spike, it’s a statement. From a once-dismissed altcoin to a market leader, SOL has climbed its way into the conversation alongside the big names. Yes, the volatility remains. Yes, corrections can sting. But for now, Solana is roaring.
It’s at $191 today. The only question left is,where’s it going next?
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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