Solana won almost 6% on Friday and gathered alongside Bitcoin, because the largest cryptocurrency $ 80,000 gets back as support. However, the total value of assets that are locked in the Solana chain has fallen $ 5.26 billion compared to its peak, a decrease of almost 50%. TVL represents the question and relevance for a chain, which means that Solana is negatively influenced by the dynamics of the changing market.
Solana-based meme coins considered to be the catalyst that stimulates profit in Sol (SOL) struggles this market cycle to recover as traders become anxious.
State Solana
The total value of locked assets is an important metric used in Defi to follow the trust of investors, the relevance of a chain and the question between crypto traders. TVL followed on Defillama shows that Solana is slowly losing the relevance in the current crypto market cycle.
Sol TVL has fallen from its peak of $ 12.191 billion to $ 6.939 billion at the time of writing. This is a decrease of almost 50% in TVL from the chain. One of the leading catalysts behind the decline is the crash of meme coins on the SOL chain.
In the past month, the top 10 protocols on the Solana -Blockchain up to 40% in TVL managed. The top three catalysts who influence this change are the flash crash of Bitcoin, Meme Munt controverses around Melania (Melania) token and Libra Meme Munt (LIBA), fall in the fall of the official token of Trump (Trump) and crypto-consultants in response in response to US risk-aged developments.
The three market movers have contributed to capital outlines of the top 10 Solana protocols and leading meme coins on the SOL chain. Defillama shows, among other things, the 1-day, 7-day and 1-month change in TVL in Jito, Jupiter, Kamino, Marinade, Raydium, Sanctum, among others.
SOLANA MEME COIN Market analysis
On Coingecko, the Solana Meme -Token category -Statistics show a small recovery. The market capitalization of all tokens in the category has risen to $ 8,949 billion. Two of the top five on Solana -based memes have yielded negative returns over the past 24 hours, Trump and Bonk (Bonk).
The other three, Dogwifhat (WIF), Pudgy Penguins (Pengu) and AI16Z (AI16Z) started their recovery last day. More than half of the Solana-based meme coins were corrected in double digits in the last seven days.
The statistics suggest that there is a shift in market dynamics and both capital and attention of traders shift from the “meme currency” sector to other categories of crypto tokens.
Bitfinex analysts evaluated the recent events in the market and noted that the launch of a meme coin is associated with the US president, albeit that led to significant losses and a liquidity outlet about other meme coins on the Solana network, a negative catalytic converter for the category.
Market Omsuizers and Solana Catalysters
The world’s biggest futures exchange, the CME Group has announced The launch of Solana Futures, a bullish development for the Ethereum competitor. The news comes afterwards Metamask’s Routekaartrelease Where the browser-based cryptocurrency wallet discusses the addition of native Solana support in May 2025.
Solana is the first non-EVM chain that is supported by the browser wallet and it adds the functionality to buy, sell, exchange and interact with Dapp’s in the entire solo ecosystem. All existing users of the chain get access to the same functions of Metamask that enjoy Ethereum users in addition to other chains supported by the wallet.
Bitcoin’s recovery and BTC who live back $ 80,000 support after a flash crash on Friday is one of the most important factors in the cryptomarket. Solana and Bitcoin enjoy a correlation of 0.83 in the three -month period. The price changes of Bitcoin therefore influence the Solana -Perrend.
Bitcoin’s retest of support at $ 95,000 and a meeting for the milestone of $ 100,000 are the two developments that can positively influence in the coming weeks, while the tokens are heavily correlated.
Sol on-chain analysis
Solana’s on-chain statistics show signs of recovery in token in the coming weeks. After a few days of negative financing percentage on Binance, Solana observes positive financing or a bullish bias among derivatives traders on Friday.
The total open interest, a metric that follows the value of all open derivative contracts in Solana, rises, increases to more than $ 2.26 billion on 28 February. Sol -price recovered after weeks of downward trend, an increase of almost 6% in the day.
The rising open interest and the positive financing percentage support a bullish thesis for the recovery of Solana in the medium to short term.
Solana Price forecast
Solana could break his multi-months downward trend with a daily candlestick in the resistance zone between $ 147.09 and $ 166.42. These two levels mark the upper and lower limit of a real value gap, an inefficiency in the market. As soon as Sol breaks past the resistance zone, the next key level for traders is resistance to $ 180.
The level of $ 180 has been supporting for almost three months, making it an important level for SOL. A daily candlestick that is close to this level can prepare Solana for a retest of the $ 200 level, an important milestone for SOL.
Technical indicators in the daily period, RSI and MACD support the dissertation. RSI reads 32 and runs up, above the “sold -over” zone for Solana. MACD shows decreasing negative momentum underlying Sol Price Trend.
Ryan Lee, chief analyst at Bitget Research, commented on the recent price promotion of Solana, the recent events such as Bybit Hack and Bitcoin ETF outflows. Ryan Lee shared the following comments with crypto.news in an exclusive interview:
“The new rates of Trump over China, Canada and Mexico have turned the cryptomarkt upside down, which is granted the 40% Solana falls, aggravated by the Bybit -Hack and more than $ 2 billion of Bitcoin ETF trees, which is a reflexion of weakened investment.
A bearish prospect suggests that Solana is confronted with stagnation when trading tensions escalate, inflation rises or intensifies risk aversion. The process depends on Bitcoin’s price trend, the reaction of China, promotions of Federal Reserve and or Trump’s Regulatory Support compensates macro -economic headwind. Critical developments are expected within the next 30 days, making this period crucial for the clarity of the market. “
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
