- Solana processes $28B in 30-day transfer volume, overtaking Ethereum and BNB Chain in value moved.
- Glassnode reports $4.7B in weekly capital inflows to SOL, highest since January, signaling renewed confidence.
- Chart breakout from falling wedge pattern targets $170–$180 as SOL trades near $147.
Solana is once again in the spotlight after overtaking Ethereum and Binance Smart Chain (BNB) in net transfer volume. According to CryptoRank data, in the past 30 days, Solana processed over $28.07 billion over the past 30 days, second only to Tether (USDT), which recorded nearly $300 billion in the same period.
The surge isn’t just about numbers it reflects deeper momentum within the Solana ecosystem. As capital, users, and applications increasingly move to the network, many are now asking whether a Layer-1 dominance reshuffle is unfolding.
Capital Inflows Signal Growing Confidence
According to financial metrics firm Glassnode, Solana saw a $4.72 billion rise in capital inflow over the past week alone. That brings its total active capital to $9.46 billion, the highest since March.
This marks Solana’s strongest week of capital inflows since January, suggesting that investor confidence is returning. The uptick appears to reflect a combination of growing institutional interest and heightened retail activity. Historically, inflow surges like this tend to precede broader growth cycles by injecting fresh liquidity and strengthening market support.
Related: Solana Surges Past $150 on High Volume; Analysts Eye $200 Price Target
Bullish Chart Breakout Hints at Price Upside
From a technical standpoint, Solana’s price action is also supporting the bullish narrative. Chart analyst AMCryptoAlex observed that Solana has broken out of a falling wedge—a classic reversal pattern.
This breakout, backed by strong volume and momentum, suggests the downtrend may have ended. As of press time trading at around $147.59, Solana is eyeing short-term targets between $170 and $180. If bullish sentiment holds, new highs could emerge as early as Q3.
Market Cap, Supply Metrics Strengthen SOL’s Bullish Case
Solana’s market capitalization currently stands at $76.4 billion, with a circulating supply of 520 million SOL. Despite a slight 0.44% daily dip and a 3.27% weekly decline, the broader outlook appears to be strengthening.
Related: ETH Posts Double-Digit Gains; Can It Hold Off Faster Rivals SOL & SUI?
With rising inflows and a confirmed technical breakout, Solana is now seen as a challenger in the Layer 1 space, not just in terms of transactions but in developer traction and capital velocity.
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