Solana topped in daily DApp revenue and DEX volumes among L1 and L2 networks.
A top trader highlighted a possible 25% recovery rally for Solana price which could see the cryptocurrency retest the $177 to $180 level. The trader, one Captain Faibik, expressed his optimism for SOL price on X where he marked a major trendline on the 2-hour chart.
Meanwhile, Solana network’s fundamentals continue to be bullish as the network tops in daily DApp revenue and DEX volumes among Layer 1 and Layer 2 networks.
At the same time, spot Solana ETFs attracted a staggering $53 million in inflows on Tuesday. All eyes are on $1.66 trillion asset manager Franklin Templeton which could possibly roll out its spot Solana ETF product anytime after filing the form s-8 with the U.S. Securities and Exchange Commission.
For the first time in weeks, Solana exhibited signs of strength according to top trader CryptoFaibik who highlighted that Solana price is finally approaching a breakout level that has capped every attempt to recover this month.
The SOL price has been pushing back toward the major trendline with more stability, and the recent bounce from the low-$130s shows buyers are slowly gaining confidence again.
As SOL tests this trendline, the structure looks cleaner than before. The higher lows forming underneath the price suggest that momentum is shifting. If SOL manages to break above this barrier, the next logical target sits around $170-$175, which lines up with CryptoFaibik’s call for a possible 25% recovery move.
The setup is straightforward. Buyers need a convincing breakout to confirm the shift in trend. Until then, SOL remains at a critical point where a single strong push could open the door to a wider rally.
Solana exhibited strong momentum across the DeFi ecosystem, and the latest 24-hour data show the network led all major L1 and L2 chains in both DApp revenue and DEX activity, reinforcing a trend that has held for several weeks.
The Solana blockchain generated $3.43 million in DApp revenue in a single day, outpacing Hyperliquid L1, Ethereum, and Base. It also handled $2.556 billion in DEX volume, which shows how much traders rely on its speed and low fees.
The fundamentals remain solid as well. Total value locked is holding near $9 billion, and user activity stays high with more than two million active addresses in 24 hours. Chain revenue and fees also point to a network processing a massive amount of transactions despite its low-cost structure.
Investors added $53.1 million in Spot Solana ETFs on November 25 extending a steady wave of inflows that had been building since launch. Traders said this kind of consistency showed growing confidence in Solana’s long-term place in the market.
Bitwise moved first, committing $31 million into Solana ETFs that day. Grayscale followed with $16 million, while Fidelity added $4.8 million. Even VanEck, known for its selective approach, joined in with $1.3 million.
The latest SOL news indicates the total money flowing into Solana ETFs has now reached $621 million. As ETF demand continued to build, market watchers noted that Solana price was picking up momentum for a possible 25% price recovery that could see it test $180.
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