Solana Reaches 400 Billion Transactions

Solana has reached a major milestone by surpassing 400 billion transactions on its network.

This achievement was driven by a 44% surge in trading volume on decentralized exchange (DEX) platforms over the past week, reaching US$21 billion.

SOL Price Performance and Technical Indicators

According to information cited from Beincrypto, the SOL token price briefly broke above US$150 but is now trading near a critical support level at US$145.59.

The Relative Strength Index (RSI) indicator shows a decline from 70.52 to 50.61, indicating that bullish momentum is starting to cool down.

Ecosystem Growth and Application Adoption

Solana’s ecosystem continues to expand with the emergence of applications such as PumpFun, Raydium, Meteora, Jupiter, and Jito.

PumpFun alone has generated over US$75 million in fees over the past month, reflecting strong user adoption.

Outlook and Upcoming Challenges

Although the milestone of 400 billion transactions highlights significant growth, Solana faces challenges in maintaining its price momentum.

If the support level at US$145.59 fails to hold, there is a potential drop toward US$133.82. On the other hand, if the positive momentum continues, SOL has the opportunity to test resistance at US$157.