Solana's price is showing remarkable growth, surpassing the $200 mark due to heightened institutional demand and robust DeFi project development.
Current Solana Price and Technical Analysis
As of today, Solana's price stands at $201.64, marking a significant rally of over 15% from $175 in just one session. Projections indicate possible short-term targets focusing on the $270 level.
Institutional Demand Surge and Its Impact on Price
Recent actions by CMB International, a leading asset manager in Asia, have amplified the growth of SOL. The firm tokenized its HK-Singapore Mutual Recognition Fund on the Solana blockchain, highlighting increasing interest in the network. There is also an uptick in public companies accumulating SOL, indicating growing confidence in the network's capabilities.
Future Growth Prospects of Solana
According to the latest data, the total value locked (TVL) on Solana is steadily increasing, approaching 2022 levels, which supports long-term optimism. In the last 30 days, Solana has generated $41.1 million in fees, bringing it close to Ethereum.
With growing institutional interest and DeFi activity, Solana showcases strong metrics and continues to attract investor attention.
