On March 19, Solana's token (SOL) rose by 8% ahead of U.S. Federal Reserve Chair Jerome Powell's remarks. The broader U.S. stock market also showed positive movement.
SOL Token Growth
SOL token experienced growth amid expectations of unchanged interest rates and a softer inflation outlook for 2025. Key onchain and derivatives metrics also suggest further upside potential for SOL.
Continued Rise of Solana's TVL
Despite a 47% drop in trading volumes over the past two weeks, Solana's TVL hit its highest level since July 2022, supporting SOL's bullish trend. Leading platforms include Bybit Staking, Drift, and the restaking app Fragmentic, which attracted significant deposits.
Stability in SOL Derivatives
Despite a decline in price over the last 30 days, demand for leveraged positions remains balanced between longs and shorts.
Despite the market downturn, the SOL token shows resilience, buoyed by TVL growth and derivative stability. These factors might support further asset growth.
