Key Takeaways:
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Corporate treasury investments drive the same demand and strengthening Sol’s price momentum.
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Dex’s dominance, fee growth, and interoperability upgrading strengthens Solana’s competitive position.
Solana’s native token (Sol) faced with a sharp decline after testing the $ 250 level on the week. Even with the correction, Sol has gained 24% in the past 30 days, supported by stronger onchain activity.
Entrepreneurs are debating if the current momentum can push SOL to $ 300, especially since the Solana Network has captured its lead in decentral quantities (DEX) quantities.
In September, Solana passed Ethereum to become the leading blockchain for Dex trading. The network processes $ 121.8 billion in monthly volume, about 90% higher than the BNB chain competitor. The leadership of this segment is key because the higher volumes generate more fees, creating repeated demand for Sol to pay for those transactions.
According to Nansen data, Solana fees rose 23% in the last seven days. The increase is noteworthy that the Ethereum still has almost seven times more total amount locked (TVL). But ETH holders are seeing limited benefits from that base because many decentralized applications, including relaxation and real-world assets (RWA), show low turnover and weak generations of charge.
Corporate Treasury Provides speeds up demand for Sol
The recent activity of the corporate treasury has strengthened demand for Sol. Some companies raise capital through stock offerings or debt and provide cryptocurrency proceeds. An example is Forward Industries (Ford), originally a medical and technology design company, which Raised $ 1.65 billion in private funds and the proceeds were used to obtain the SOL for its reserves.
Forward industries are funded by Galaxy Digital (GLXY), Jump Crypto – both a market manufacturer and venture capital fund – and multicoin capital, known for early bet on helium (Hnt), Filecoin (Fil), SoloDot). Separately, a Solana -focused firm called Defi Development Corp revealed handles More than 2 million solcosting more than $ 460 million.
The Pantera Capital, another major blockchain asset manager, announced Monday the launch of a new vehicle supported by Solana, the Nasdaq listed in Helius (HSDT). The $ 500 million initial private placement is led by Hong Kong-licensed summer funds and can be expanded to more than $ 1 billion, according to a statement.
Related: Bitcoin and Solana ETP are leading the $ 3.3B Crypto Inflow Rebound: Coinhares
Another possible tailwind for Sol came from a suggested Open-Source Bridge Between Solana and Base, an Ethereum layer-2 developed by Coinbase. The base has more than 20 million active addresses in 30 days, according to Nansen. The bridge will allow users to move assets throughout the chain, creating what is the base creator Jesse Pollak called a more “interoperable and connected” ecosystem.
The Crypto initiative supported by Trump World Liberty Financial (WLFI) Also announced on Monday a cooperation on Solana’s Memecoin platform Bonk.Fun and the Raydium Dex to fund “multimillion-dollar promotional rewards.” The effort targets USD1 Stablecoin pairs, with a WLFI token that has been reported to be back in full by US dollars and cash equivalent.
Considering Solana’s onchain activity, Sol accumulation by Treasury-focused companies, and the visibility from the Base Bridge and WLFI campaign, entrepreneurs are seeing conditions for further reverse. A rally up to $ 300 will give Solana a $ 163 billion market capitalization, which still represents a 70% discount on Ether’s $ 543 billion appreciation, making the scenario possible in the near term.
This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.
