TechFlow news, on July 22, according to CoinDesk, SOL has risen more than 18% over the past week, breaking above $180 and reaching a three-month high. Data from DefiLlama shows that the total value locked (TVL) on Solana has grown by over 25% in the past month, reaching $5.28 billion—the highest level since April 2022. Market observers note that increased transaction activity on Solana and anticipation of a potential Solana ETF are key reasons for its recent outperformance.
Pat Doyle, blockchain researcher at Amberdata, said the Solana ecosystem is demonstrating strong momentum, with rising decentralized exchange (DEX) activity, increasing daily active users, and growing network fees—all signs of robust fundamentals.
Rennick Palley, founding partner at crypto venture fund Stratos, pointed out that easing regulatory expectations have enhanced SOL's appeal among institutional investors. He noted that Donald Trump’s pro-crypto stance expressed during his campaign may help ensure SOL and its ecosystem tokens are not classified as securities. Palley further stated that the upcoming ETH ETF could also benefit SOL, as it may become the next token to receive an ETF. Its relatively small market size and strong price performance would be highly favorable factors.
