Solana News: Breakout Price Targets and Continued DEX Dominance

Solana continues to impress in the cryptocurrency space, maintaining its lead in decentralized exchange (DEX) volume and seeing significant growth in various metrics. Here’s a closer look at the latest developments surrounding Solana.

Solana’s Price Target and Dominance in DEX Volume

Solana remains strong, leading DEX volume for the fifth consecutive month with $105B in February. Over $700M in assets moved to its chain, with $400M coming from Ethereum. NFT adoption is also rising, with 146K users. As Solana breaks key resistance, new price targets come into view. Trading volume continues to grow steadily, according to data from DeFiLlama, strengthening its leadership position. Binance Smart Chain and Ethereum maintained second and third positions respectively.

Solana Price Plummets Despite Bullishness: Why and What to Expect?

Solana (SOL) price plummeted over 20%, trading at $141.93, despite being announced as part of a strategic reserve. The sharp drop erased gains from previous sessions, falling from a daily high of $179.53 to a low of $140.21. Key support levels around $155 failed to hold, triggering a stronger decline. Historically, this price range acted as resistance in August and September. Despite the drop, trading volume surged, indicating strong market activity. Technical indicators show mixed signals, with Bollinger Bands suggesting heightened volatility and moving averages showing downward pressure. If Solana recovers above $155, bullish momentum could return.

VanEck Research Head Warns of Solana Upgrades’ Impact on Validator Earnings

VanEck’s head of digital assets research, Matthew Sigel, has warned that upcoming Solana network upgrades could significantly impact validator earnings while raising centralization risks. Sigel outlined three major proposals — SIMD 096, SIMD 0123, and SIMD 0228 — which seek to improve Solana’s (SOL) economic framework but have the potential to reduce validator revenue by up to 95%. These changes are part of Solana’s several upcoming protocol upgrades aimed at enhancing its technical capabilities and economic framework to stabilize and strengthen its position in the crypto ecosystem.

Solana Rebounds to $143 After 28% Crash; FTX Deposits SOL to Binance

Solana (SOL) has rebounded to $143 following a recent 28% crash, recovering 4% in the past day. However, it could face pressure as FTX continues depositing SOL to Binance. The decline came after a wave of profit-taking, sparked by President Trump’s U.S. Crypto Strategic Reserve announcement on Mar. 2, which initially surged SOL to $179 before plummeting to $130. Despite the volatility, Solana’s DEX sector remains strong, topping DEX volume for the fifth consecutive month at $109 billion, 24% higher than Ethereum (ETH).