Solana Surges with Bullish Signals and Rising Transactions

Solana neared $200 on May 22, 2025, with rising transactions and bullish signals. Analysis predicts price growth.

On May 22, 2025, Solana (SOL) became a focal point in the crypto market, capturing significant investor attention. The Solana network set a new record for daily transaction volume, outpacing competitors like Aptos, Avalanche, Tron, and Sui, reinforcing its edge in speed and scalability. This surge in activity bolstered investor confidence in Solana’s ecosystem. From a technical perspective, Solana was trading between $190 and $200, with analysts noting the formation of a 'cup and handle' pattern—a strong bullish signal suggesting potential price growth toward $220 or higher. However, warnings of short-term corrections to the $180 support level were raised if selling pressure increases. Rising trading volumes and weighted moving averages indicate growing interest from large investors. A key driver of Solana’s growth was its widespread adoption in DeFi and meme coin ecosystems. Platforms like Pump.fun continued to attract new users, with Solana-based applications generating $1.2 billion in revenue in Q1 2025. This growth, particularly in January, was fueled by new meme coin launches. However, a 64% drop in total value locked (TVL) in DeFi protocols to $6.6 billion raised concerns about the sustainability of this expansion. Speculation about a potential spot Solana ETF approval in early 2025 further fueled optimism. The SEC’s decision is slated for January 25, and approval could significantly boost liquidity and demand. Additionally, financial brokers have increasingly favored Solana for large-scale transactions due to its low fees and high speed, enhancing its competitive advantage. Still, some analysts cautioned about short-term volatility, citing factors like new token unlocks or shifts in Federal Reserve monetary policy. Overall, Solana’s market on May 22, 2025, was marked by bullish signals tempered by caution. Investors are advised to monitor developments closely and employ risk management strategies.