- Solana surpasses Ethereum and Binance Smart Chain in 24-hour DEX trading volume.
- SOL price dropped 22% but remains above key support zones near $120–$130.
- Analyst Nick Ducoff says Solana’s low fees and scalability give it an advantage.
Solana faced a strong correction this week, falling more than 22% to below $200. The decline followed a major rally in 2025, when the token reached $295, exceeding its 2021 peak of $260, according to data shared by Crypto Patel.
The chart analysis showed that Solana is now consolidating near major Fibonacci retracement levels, with an important support range between $120 and $130. Despite the correction, analysts believe Solana maintains a resilient structure supported by on-chain demand and developer engagement.
Trading data indicates sustained activity, suggesting long-term investors continue to accumulate positions even during short-term volatility. Projections from multiple chart models show a possible path toward $500 if liquidity and trading momentum remain consistent through the cycle.
Solana Flips Ethereum and Binance in DEX Volume
Solana overtook both Ethereum and Binance Smart Chain in 24-hour decentralized exchange (DEX) volume. This move places Solana back at the top of the DEX leaderboard, showing increased trading activity from retail and institutional participants.
The rise was driven by growing liquidity and the surge of meme coin and DeFi transactions across its network. Solana’s fast transaction speeds and low network fees have drawn traders seeking efficiency and scalability. The activity also points to rising confidence in Solana-based platforms as congestion and high costs persist on Ethereum.
Analyst Nick Ducoff commented that Solana’s network structure “gives it a clear edge” in processing high volumes efficiently. Market data shows that Solana’s DEXs are attracting substantial liquidity inflows, reinforcing the chain’s competitive presence among decentralized trading platforms.
Solana Named Fastest Growing Tech Platform
Solana’s official X account described the network as the fastest growing tech platform in history. The project’s rapid growth in user activity and developer traction supports this statement. Analyst Nick Ducoff referred to Solana as part of the “Magnificent 8,” comparing its rise to the early internet phase.
The broader crypto community responded positively, noting the steady expansion of Solana’s ecosystem. Continued developer interest and active network use signal further progress in decentralized finance, gaming, and real-world asset integrations.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
