Solana (SOL) is making headlines again, rallying nearly 3% to trade around $130, fueled by a surge of over $120 million in liquidity migrating from competing blockchains. As capital flows back into the network, Solana is re-establishing its dominance in the decentralized finance (DeFi) sector and attracting fresh institutional attention.
Solana Reclaims DEX Crown, Outpaces Ethereum Layer-2s
Solana has officially reclaimed its title as the leading decentralized exchange (DEX) chain by trading volume, outpacing major Ethereum scaling solutions by more than 50%. This resurgence highlights Solana’s growing role in DeFi ecosystems, as users and developers seek alternatives that offer higher throughput, lower fees, and faster settlement times.
The sharp uptick in on-chain activity aligns with rising confidence among both retail and institutional participants, and recent liquidity shifts suggest capital is rotating back into Solana-based platforms.
Canada Launches First Solana ETF, Signaling Institutional Demand
Institutional interest in Solana is accelerating, following the launch of Canada’s first-ever Solana exchange-traded fund (ETF). The ETF provides direct exposure to SOL tokens, offering a regulated entry point for institutional and retail investors looking to participate in the network’s long-term growth.
This move is seen as a major milestone in SOL’s maturation as an asset class, giving it legitimacy alongside Ethereum and Bitcoin in traditional finance circles.
Technical Outlook: Key Support at $120 in Focus
While bullish sentiment is rising, technical indicators caution that Solana must hold above a key support level at $120 to avoid a potential shift toward bearish territory. A breakdown below this threshold could trigger further downside pressure, especially in a market prone to volatility.
Still, the near-term trend remains positive, with SOL maintaining upward momentum and investor confidence buoyed by fundamental developments.
