Solana TVL Rockets to $42 Billion ATH: Price Rebound Imminent?
Solana just shattered records with a staggering $42 billion total value locked—proof the network's firing on all cylinders while other chains sputter.
The TVL Tsunami
That number isn't just big—it's monumental. $42 billion flowing into Solana's ecosystem signals massive institutional and retail confidence, dwarfing previous benchmarks and leaving competitors scrambling to catch up.
Price Pressure Building
With this much capital flooding in, the fundamental case for SOL strengthens by the minute. Network activity surging, developers building, users piling in—all while Wall Street analysts still debate whether crypto's 'a phase.' Classic finance—always late to the party but first to complain about the hangover.
The real question isn't if prices recover—it's when they explode.
Source: Token Terminal
Will Solana Rebound After TVL Hits All-Time High?
The crypto market broke into a rally earlier this month, with Bitcoin (BTC) hitting a new all-time high of $126,080. Solana (SOL) also followed the bullish trajectory, reclaiming the $236 price level. However, the rally was short-lived. The market faced a steep correction, and SOL’s price fell to the $220 price point. SOL currently faces some support at the $220 price point.
According to CoinGecko’s SOL data, Solana is down 2.6% in the last 24 hours and 4.1% over the last week. However, the asset has maintained gains in the other time frames. SOL has rallied 13.3% in the 14-day charts, 1.5% over the previous month, and 58.7% since October 2024.
There is a high chance that the crypto market will rebound over the coming weeks. October has usually been a bullish month for the crypto market. Chances are high that we will follow the historical pattern this time as well.
Moreover, the Federal Reserve is likely to introduce another interest rate cut after its next meeting. BUllish historical data and a potential interest rate cut could trigger another bull run for Solana (SOL) and the larger crypto market.
The US SEC is also expected to decide on spot Solana (SOL) ETF applications on Oct. 10. A positive decision could lead to a big rally for SOL. However, the SEC may even decide to postpone its final verdict.
