Solana (SOL) Reaches Five-Month High Amid Rising Network Activity
- Solana’s price has surged by 34% over the past month, hitting $193.
- The cryptocurrency is currently trading at approximately 35% below its all-time high of $295.
- SOL has increased over 2,400% since a cycle low of around $10 in November.
- Daily active addresses on Solana rose by 9% in the last day, indicating strong user engagement.
- Total value locked (TVL) on Solana reached a six-month high of $10.3 billion, up from $6.1 billion in April.
The recent price rally for Solana is supported by robust network activity and a significant increase in total value locked (TVL), which reflects growing confidence among users and investors alike.
With its current momentum, analysts are targeting a potential breakout that could see SOL prices reach as high as $6,300 based on technical patterns observed.(Source)
