3 Powerful Catalysts That Could Propel Solana (SOL) Toward the $300 Mark

Updated

October 10, 2025

Gambar 3 Powerful Catalysts That Could Propel Solana (SOL) Toward the $300 Mark

Jakarta, Pintu News – Solana’s native token, SOL, climbed back to $229 on Tuesday (7/10) after briefly dropping to $218. The rise came after investors responded positively to the release of the US Federal Reserve’s September 17 meeting minutes, which reaffirmed expectations of additional interest rate cuts by 2025.

Traders remain optimistic that Solana has the potential to break the $300 level, a target that is considered realistic given the strong bullish sentiment evident from derivatives data and on-chain activity.

Solana Takes Top Spot in DEX Activity

Over the past seven days, Solana’s network fees increased by 22%, driven by a surge in activity on various decentralized exchanges (DEXs). Meanwhile, its main competitor, Ethereum , experienced the opposite trend with network revenue falling 21% over the same period.

Solana continues to lead in terms of the number of transactions, even surpassing the total combined transactions of Ethereum and its Layer-2 ecosystem.

DEX volume on Pump surged 78% in the last seven days, followed by a 73% increase on Meteora and 46% on Raydium . Overall, Solana reclaimed the top spot in DEX activity, recording a 30-day trading volume of $129 billion, surpassing Ethereum’s $114 billion, according to DefiLlama data.

Meanwhile, fast-growing competitor Hyperliquid (HYPE) has slowed down at around $31 billion.

Solana Network Activity Increases

Network fees are becoming an important element for any blockchain focused on decentralized applications, especially when the revenue from such fees can help keep inflationary pressures at bay.

In a decentralized system, running validators costs money, and staking participants naturally expect a reasonable return. In other words, weak network activity may decrease interest in holding native tokens and even trigger selling pressure in the market.

In the last 30 days, Solana’s total value locked (TVL) increased by 8%, which contributed to the increase in network revenue. Some of the protocols that recorded significant growth include Kamino (KMNO) with a 20% increase in total deposits, Drift (DRIFT) up 12%, and Orca also up 12%.

In comparison, Ethereum only recorded 3% growth in TVL, while Tron grew 6% over the same period. Thanks to these achievements, Solana is now the second largest globally, with a TVL of $14.2 billion or 8% market share.

The rapid spike in activity on perpetual futures trading platform Aster (ASTER) also turned traders’ attention to BNB Chain , after a series of meme coins surged more than 150% in just seven days.

As a result, although SOL prices rose by 3% over the period, BNB’s extraordinary 28% increase dampened investor sentiment in the Solana ecosystem.

Surge in Inflows into Solana ETPs Signals Growing Institutional Demand

Data from SOL perpetual futures trading gives an idea whether traders are losing confidence after failing to break the $250 level on September 18.

Many SOL holders are likely frustrated, especially as some competing tokens have set new record highs, such as BNB which reached $1,357 on Tuesday and Mantle (MNT) at $2.81 on Wednesday.

The funding rate on SOL perpetual futures contracts remained below the 6% neutral threshold, signaling weak interest in leveraged long positions.

This cautious attitude was partly triggered by the increasing attractiveness of competing blockchains, which managed to distract the market from Solana, despite Solana’s ETP recording the highest weekly inflows all year.

According to a CoinShares report, investment products such as Solana ETFs and ETPs recorded inflows of $706 million in the seven days to September 5 – far outpacing XRP which only recorded $219 million.

Now, investors are looking forward to the approval of several Solana spot ETFs by the US SEC on Friday, which could potentially encourage additional institutional fund flows and lift SOL prices past the $300 level.

That’s the latest information about crypto. Follow us on Google News to get the latest crypto news about crypto projects and blockchain technology. Also, learn crypto from scratch with complete discussion through Pintu Academy and stay up-to-date with the latest crypto market such as bitcoin price today, xrp coin price today, dogecoin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference: