Solana (SOL) has recorded its highest daily active user count to date, while a crypto analyst predicts the token could rise 12 times from its current level. The projection places SOL near $2,000 if the price repeats a historical rising channel pattern that has previously supported large rallies.
Data from Santiment shows Solana’s daily active addresses (DAA) climbed to about 14.63 million on July 7. This level is over three times higher than the chain’s average daily count of around 4-5 million in mid-2023.
By comparison, BNB Smart Chain’s daily active addresses typically range between 2-4 million, while Ethereum’s hover around 400,000-1 million. This shows Solana is processing one of the highest daily user counts among major blockchains in 2025.
A surge in active users often means more transactions, increased DeFi activity, and rising meme coin volumes — factors that can boost on-chain fee generation and validator rewards.
One technical analyst has mapped a rising curved channel on Solana’s long-term chart. The pattern shows SOL repeatedly moving from the lower boundary of this channel to its upper limit during past bull cycles.
In November 2021, Solana reached the top of this channel when it traded above $250. It had climbed nearly 1,000% from its mid-2020 levels. The analyst argues that if Solana’s current cycle follows the same path, price could eventually revisit the upper boundary. This would place SOL near $2,000 — about 12 times higher than today’s spot level.
SOL to USD currently stands at about $152 on July 7. Solana’s daily chart shows price moving inside a defined box between $140 and $160. The 20-day EMA sits near $149.32, the 50-day near $151.31, the 100-day at $153.76, and the 200-day EMA around $159.01.
SOL currently trades above the 20-day and 50-day EMAs but remains just below the 200-day line. A daily closes above the 200-day EMA can confirm a trend shift toward sustained upside.
The RSI on the daily chart sits near 50. This shows neutral momentum with no clear overbought or oversold signal yet. No bullish reversal pattern has formed outside this box, and daily trading volume remains moderate.
A strong move above $160, backed by rising volume, could confirm the start of a larger breakout and test higher levels.
Santiment’s latest data shows Solana’s development activity score is around 65-70, comparable to Polkadot’s 82 and Ethereum’s 78. Active contributor counts for all three chains are clustered between 12 (Solana) and 29 (Polkadot, Ethereum).
This is much lower than the highs seen during 2021 and 2022 when Ethereum’s and Polkadot’s developer counts frequently exceeded 100-200 active contributors. The decline shows broader consolidation among open-source teams after the 2022 market downturn.
For Solana, fewer active developers mean that expanding new features or upgrades could move at a slower pace compared to the network’s rapid user growth.
Additionally, Solana’s Total Value Locked (TVL) now sits at about $8.71 billion, up nearly 25% year-to-date. TVL remains below its peak near $12 billion in late 2021 but continues recovering from lows that followed the FTX collapse.
DEXs and staking pools contribute over 60% of this locked value, showing that DeFi protocols still drive most of Solana’s on-chain liquidity.
The recent launch of the REX-Osprey Solana Staking ETF has added fresh capital. The product drew about $11 million in inflows within 48 hours of its July 3 launch, boosting Solana-linked investment volume.
If bulls succeed in pushing price above $160 with a daily close above the 200-day EMA, traders expect resistance near $180, $220, and $260 as the next upside levels.
Reclaiming these areas could signal a return to a strong upward trend. To sustain the rally toward the analyst’s $2K target, Solana will likely need continued growth in daily users, a steady recovery in TVL, and renewed developer participation.
Broader crypto market trends, especially Bitcoin’s next moves, remain a key influence. Any sharp drop in Bitcoin price or unexpected network issues for Solana could challenge the bullish case. For now, the price remains trapped in a neutral box.
