Solana’s price jumped 20%, driven by a surge in developer activity and rising DeFi adoption. Increased transactions and new projects on the network signal strong momentum for further growth.
Solana (SOL) has gone up by 20% in price over the last week due to more developers working on it and increasing trust from investors. As of February 3, 2025, SOL is priced around $196.10. During the day, it reached a high of $213.99 and a low of $181.14.
One major reason for this increase is that the Total Value Locked (TVL) in Solana has grown a lot, hitting a record $11.6 billion, according to DeFiLlama. The increase in TVL shows that more money is coming into Solana’s decentralized finance (DeFi) system, showing that more people find the site useful and trustworthy.
Solana’s on-chain income has reached a high of $5.9 million, showing that more people are using the network and making transactions. According to Santiment, the community has mixed feelings, with more negative comments than positive ones. The number of negative to positive comments is 3 to 2 on platforms like X, Reddit, and Telegram.
Analysts are hopeful about Solana’s future. Crypto expert Ali Martinez has found an important support level between $251 and $262.
If SOL can stay above this area, it may lead to a breakout, possibly raising the price to $314.40, which would be a 20% increase from where it is now. If recent gains are not maintained, the price could drop back to $228. This highlights the value of staying above the $251–$262 range.
The recent release of TRUMP and MELANIA memecoins has helped Solana grow, increasing its stablecoin supply by 73% in just 15 days. This growth has made Solana the third-largest stablecoin network, making it more attractive to investors.
In short, Solana’s latest price increase is boosted by more developers getting involved, more money being invested in its projects, and important new developments in its system. As the platform changes, buyers are watching how it performs. Important resistance levels may help predict future price changes.
