The Solana ($SOL) network is making waves, with a staggering 14.63 million active addresses recorded in the last 24 hours, according to data from Santiment shared by @ali_charts on X.
This surge, accompanied by a “megaphone” chart pattern, hints at a potential price rally to $210, reigniting optimism among investors. The chart, posted on July 8, 2025, underscores Solana’s growing adoption, outpacing competitors like Base, which logged 77.1 million transactions recently, as noted in a Cointelegraph analysis from May 15, 2025.
This heightened activity aligns with Solana’s reputation for low transaction costs and rapid processing, bolstered by its proof-of-history protocol. The network’s DeFi and NFT ecosystems continue to drive interest, with daily trading volume surging 85% to $5.25 billion, per CoinDCX forecasts. Santiment’s decade-long expertise in on-chain analytics lends credibility to these metrics, though the crypto market’s volatility warrants caution.
The May report highlighted a resistance level at $180, suggesting that breaking past this could catalyze the projected $210 target, especially if the Relative Strength Index (RSI) exceeds 55 with sustained volume.
Current price data from CoinMarketCap shows $SOL at $149.28, indicating room for growth if support holds between $130-$150. However, past critiques of Solana, including the underwhelming $1,000 Saga smartphone launch in 2023, remind investors of potential risks. Without peer-reviewed studies on network activity’s direct impact on price, this rally remains speculative. For now, the 14.63 million active addresses signal real adoption, potentially marking a bullish turn for $SOL. Investors should monitor breakout zones and downside risks closely as the market evolves.
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.
