Solana News: Can SOL Reach $400 by February Amid Record Highs?

Solana (SOL) has recently experienced a significant price surge, reaching a new all-time high of $295.83 before slightly retracting to around $260. This price movement comes alongside a record-breaking $27 billion in DEX trading volume, driven by the popularity of meme coins like TRUMP and MELANIA on the Solana blockchain. With Total Value Locked (TVL) and fees generated also hitting unprecedented levels, the technical and on-chain indicators suggest a potential continuation of this bullish trend. The question on everyone's mind is whether SOL can achieve the $400 milestone before February.

Solana Price Prediction: Can SOL Hit $400 Before February?

Solana has turned red, hovering NEAR the $260 level after hitting a new all-time high of $295.83 the previous day. Per Artemis data, SOL’s DEX trading volume also hit a new high of $27 billion, bolstered by the rise of TRUMP and MELANIA meme coins in the Solana Blockchain. The technical perspective and on-chain metrics suggest a continuation of the rally as its Total Value Locked (TVL) and fees generated hit record levels.

Trump’s Crypto Silence Sparks Debate Despite Past Support

President Trump’s recently unveiled list of legislative priorities left the crypto industry off the agenda, despite earlier actions and statements in support of the sector. This omission has sparked concern among crypto advocates, though some argue it may be premature to draw conclusions. During his campaign and in the lead-up to his inauguration, Trump appeared to embrace the crypto community. He endorsed the industry at a Nashville conference in July and even launched his own Solana-based meme coin. He also hosted a high-profile 'Crypto Ball' event, which attracted prominent industry leaders like the CEO of Crypto.com. These moves positioned Trump as an ally of the crypto space, fueling hopes for supportive policies. However, his inauguration speech and accompanying document of immediate priorities made no mention of cryptocurrency.

Users Slam Coinbase Over Delayed Solana Transactions, Call for Proof of Reserves

Coinbase users have reported significant delays in Solana (SOL) transactions, with some waiting over 14 hours to send or receive SOL. This has raised concerns about the exchange's liquidity and operational practices. An investigative journalist highlighted the cancellation of a transaction after a full day of pending status, while another user shared that two transactions were stuck for over 14 hours. There is growing speculation that Coinbase might be staking users' SOL without their consent to earn yield, with delays potentially stemming from the unstaking process needed to replenish operating reserves.

Concerns Grow Over Coinbase Liquidity Issues and Staking Practices

Frustration among Coinbase users has escalated due to delayed transactions, particularly involving Solana (SOL). Reports suggest that Coinbase may be staking users' SOL without explicit consent to generate yield, leading to delays in transaction processing. The delays are speculated to be due to the unstaking process required to replenish operating reserves before executing transactions. This has sparked a broader discussion about the exchange's liquidity management and transparency in staking practices.