Solana’s Bullish Surge: Network Activity and Technical Patterns Signal $250 Target

Solana (SOL) has demonstrated a remarkable 8% price surge, currently trading near $150, driven by robust network activity and increasing demand signals. The Layer-1 blockchain’s Total Value Locked (TVL) has seen a significant 25% increase over the past month, now exceeding $8 billion, underscoring growing investor confidence. Technical analysis highlights a bullish V-shaped recovery pattern, with analysts projecting a potential rise to $250 if key resistance levels are overcome. This upward momentum is further supported by positive market sentiment, positioning Solana as a strong contender in the cryptocurrency market. As of May 3, 2025, Solana’s performance and network growth suggest a promising trajectory for both short-term traders and long-term investors.

Solana’s V-Shaped Recovery Targets $250 as Network Activity Surges

Solana has surged 8% to trade NEAR $150, bolstered by robust network activity and growing demand signals. The Layer-1 blockchain’s Total Value Locked (TVL) has climbed 25% in the past month, surpassing $8 billion, reflecting heightened investor confidence.

Technical charts reveal a bullish V-shaped recovery pattern, with analysts eyeing a $250 price target if key resistance levels are breached. Market sentiment is further buoyed by speculation around a potential US spot Solana ETF approval, which could unlock institutional inflows.

The network’s fundamentals continue to strengthen, with developer activity and transaction volumes hitting new highs. This resurgence positions Solana as a standout performer in the competitive smart contract platform arena.

PumpFun Deposits $15M in SOL to Kraken; Total Transfer Nears $600M

PumpFun, a Solana-based meme coin launchpad, has deposited 105,233 SOL—worth approximately $15.86 million—to Kraken, marking another significant transfer in a series of transactions. The platform has now moved a total of 3,202,498 SOL, equivalent to $591 million, to the exchange at an average price of $185 per SOL.

Lookonchain tracked the latest transaction, revealing PumpFun’s consistent strategy of funneling user fees to Kraken. The platform has also sold 264,373 SOL for 41.64 million USDC at $158 per SOL, further solidifying its approach to liquidating accumulated fees.

Solana Price Holds Steady at $150 Amid Market Volatility

Solana’s price remains anchored near $150, reflecting muted activity despite broader crypto market turbulence. Trading volume dipped 14% in 24 hours, yet the asset has gained 15% over the past month—a signal of accumulating institutional interest.

Market participants now debate whether SOL will test resistance at $177 or retreat to $127. The altcoin’s sideways movement contrasts with its longer-term bullish trajectory, fueling speculation about its near-term direction.

Solana Surges Amid Significant Token Transfers to Kraken

Solana (SOL) has experienced a notable price surge following a large-scale token transfer by Pumpfun. The entity moved 105,233 SOL, worth approximately $15.86 million, to Kraken exchange. This transaction is part of a broader pattern, with Pumpfun’s cumulative SOL transfers now reaching 3,202,498 tokens. The team has reportedly sold 264,373 SOL for nearly $41.64 million in USDC, drawing market scrutiny.

On-chain data reveals three new wallets withdrew 145,000 SOL shortly after the transfer. Despite weak trading volumes, Solana’s daily chart shows a bullish breakout. Analysts caution that Pumpfun’s persistent sales strategy could introduce downward pressure on SOL’s price trajectory.