SOL surges 25% with DeFi TVL reaching All-Time High
The Solana network has seen a sharp rise in user demand and capital inflows, pushing its decentralized finance (DeFi) total value locked (TVL) to an all-time high of $13.2 billion. Could this fuel SOL’s climb to new price highs?
According to DeFiLlama, Solana’s DeFi TVL has reached a record $13.2 billion, up 18% in the past week. This jump signals growing capital inflows into Solana DeFi protocols — a trend sustainable only with rising user demand and network activity.
Solana TVL from 2023. Source: DeFiLlama
Artemis data confirms this trend, showing increases in daily active addresses and transactions. Over the past week, daily active addresses making at least one SOL transaction rose 37%, while daily transactions grew 17% during the same period.
This surge has been mirrored in SOL’s price, which has gained nearly 25% in the past week.
Will SOL reach a new ATH?
BeInCrypto analysis suggests sustained demand could push SOL to $270.18, with a breakout above that level paving the way for a retest of the all-time high at $295.83.
However, a slowdown in inflows could pull SOL back to $219.21, highlighting the risk of retracement if bullish momentum weakens.
SOL Daily Chart. Source: Trading View
Currently, SOL trades well above its 20, 50, 100, and 200-day SMAs, reinforcing its bullish structure. Still, after a week of consistent gains, the RSI has entered overbought territory at 71.31 — signaling a potential pause or pullback if it rises further.
As we wrote, Sol Strategies lists on Nasdaq to boost Solana adoption
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