Solana News: SOL Rebounds 30% After Correction, Analysts Predict Further Consolidation and Upside Potential

Solana (SOL) Surges 30% After 20% Correction: What’s Next?

Solana rebounded 30% to $156 after a 20% drop, with trading volume surging. Analysts predict SOL consolidating between $120 and $180, with active addresses spiking, boosting bullish momentum. Key resistance is at $201.70; a breakout could drive SOL to $230.49. The RSI at 24.41 signals oversold conditions. SOL revisited a marked range, slightly dipping lower before rebounding, presenting additional entry opportunities.

Solana Price Prediction and Remittix’s Rising Prominence

The solana price prediction for 2025 is a hot topic as investors wonder if SOL can reclaim $200 before March ends. The current market value of Solana stands at $143, with a 15% decrease from last week. Market sentiment favors innovation with tangible benefits, and Remittix (RTX), which focuses on solving payment inefficiencies, has surged ahead and is poised for remarkable gains this month. As Solana battles to reclaim $200, RTX could steal the spotlight.

Solana Inflation Could Fall By 80% After New Proposal

Solana’s price is drawing attention with a new proposal that could reduce SOL inflation by 80%. If this proposal passes, it could bring important changes to the network, potentially improving its long-term stability and value. As Solana moves forward with these adjustments, the future looks promising for the project.

FTX’s Solana Liquidation Drives SOL Price Down

Solana (SOL) has seen a significant price drop due to the liquidation of 11.2 million SOL tokens tied to FTX’s bankruptcy. The unlock of these tokens on March 1st has raised concerns of a potential sell-off, with tokens valued between $1.5 billion and $2 billion entering the market. This has caused Solana’s price to fall from $224 in February to around $140, a decline of over 30%. The market is reacting to these developments with shockwaves, casting doubt on the future of this once-promising blockchain.

Solana Maintains Lead in DEX Trading Volumes

Solana (SOL) has maintained its lead in decentralized exchange (DEX) trading volumes for five consecutive months, according to DefiLlama data. In February, the Solana blockchain recorded a DEX trading volume of $105.85 billion, significantly ahead of BNB Chain (BNB) which ranked second with a trading volume of $84.25 billion during the same period. This comes despite a notable slowdown in the Solana meme coin market, particularly in activity on Pump.fun, one of the largest drivers of Solana’s revenue in 2024. Pump.fun has seen a sharp decline, with protocol fee revenue dropping by over 90% from its peak achieved on January 25.