|

Experts predict Solana price rally as the Ethereum-killer crosses $58 billion in transactions

  • All time transaction volume on the Solana network has exceeded $58 billion. 
  • The Solana network has recovered from the largest DeFi hacks in projects powered by its blockchain. 
  • Analysts have a bullish outlook on Solana, predicting a reversal in the altcoin's price trend. 

Ethereum-killer Solana has recovered from the drop in on-chain activity, hitting $58 billion in all-time transaction volume. Analysts have predicted a rally in Solana price, in response to the bullish catalysts. 

Solana could break into a price rally as demand rises

Solana made headlines with a project on the network's blockchain; Wormhole suffered a $320 million hack. The blockchain has now recovered from security vulnerabilities and hit a new milestone. Solana's on-chain activity has exploded by crossing $58 billion in all-time transaction volume. 

Active wallets on the Solana network have climbed steadily over the past month. The average number of wallets is around 800,000, and this indicates the high demand for Solana among investors. 

The number of transactions on the Solana network across centralized exchanges has continued to climb steadily since 2021.

Developers in the Solana ecosystem have welcomed builders in the Solana ecosystem to work on the Web3 stack. The objective is to boost the scalability and user experience of the Solana blockchain. 

Proponents believe that the addition of Solana-based projects to Coinbase's portfolio has positively impacted the altcoin's price. 

@Pentosh1 has evaluated the Solana price trend and noted that a drop below $125 puts the altcoin in the pain zone. 

FXStreet analysts believe that Solana has disappointed bulls with its poor performance as the altcoin fails to sustain a price above $100. Analysts have a bearish outlook on the Ethereum-killer if Solana price continues its downtrend. 


 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

Hyperliquid Price Forecast: HYPE rises on commodities demand amid US-Iran war

Hyperliquid (HYPE) steadies above $33 at press time on Tuesday, marking its fourth consecutive day of recovery in a broadly volatile market due to the ongoing US-Israel strikes on Iran.

Stellar Price Forecast: XLM risks deeper losses as derivatives metrics turn negative

Stellar is trading red below $0.16 at the time of writing, after a slight recovery the previous day. Weakening derivatives data caps the recovery, while an unfavorable technical outlook projects a deeper correction for the XLM token in the upcoming days.

Aave Price Forecast: AAVE tests channel resistance as ParaFi Capital deposit, bearish derivatives data caps upside

Aave (AAVE) trades around $120 on Tuesday, testing the channel resistance, signaling that sellers remain active in the zone. Lookonchain data shows that ParaFi Capital transferred 42,000 AAVE tokens to Coinbase Prime over the past 10 hours, often interpreted as a potential selling signal.

CME Group's futures suite now covers over 75% of total crypto market cap

CME Group announced that its crypto futures offering now covers over 75% of the total digital asset market cap, following the launch of its Cardano (ADA), Chainlink (LINK) and Stellar (XLM) products.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.