SOLANA’s indigenous token, SOL (SOL), rose 8% on March 19, as investors turned into a dangerous asset ahead of Jerome Powell’s remarks. While interest rates are expected to not change, analysts expect a softer inflation outlook in 2025. Meanwhile, Solana’s main onchain and derivatives indicators suggest an additional increase in SOL Price.
The Cryptocurrency market reflects the movement in the US stock market and suggested that SOL’s interests were not led by industry -star news, such as reports that the US Securities and Securities Commission could withdraw the lawsuit against Ripple after four years of obsession.
Russell 2000 Small-Cap Index Futures Source: TradingView / COINTELEGRAPH
On March 19, Russell 2000 Index FutureS, which tracks small -scale US -listed companies, surged to the highest level in 12 days. Solana is noticeable despite the broad slowdown in the Decentralized Application (DAPP) activity.
Solana’s TVL continues to rise
Solana’s onchain volume has been reduced by 47% over two weeks, but similar reductions have been reduced in Ethereum, Arbitrum, Tron and Avalanche, and emphasized trends in the industry rather than Solana specific problems. The total value lock (tvL) of Solana Network, a deposit scale, has reached the highest level of support for SOL’s strong momentum since July 2022.
Solana total value lock (tvL), sol. Source: Defillama
On March 17, Solana’s TVL climbed to 53.2 million soles, up 10% from the previous month. In contrast, the TVL of BNB chain has risen 6% to BNB terms, while TRON’s deposits have fallen 8% in TRX terms for the same period. Despite the weak activity in the decentralized application (DAPP), Solana continued to recover the steady sedimentary flow.
Solana showed a strong momentum with BYBIT Stacking, which has increased 51% of deposits since February 17, and 36% TVL. RESTAKING App Fragmentic also rose 65% of SOL sediment for 30 days. Nominal, Solana ranked second on TVL ahead of $ 5.4 billion in BNB Chain.
Despite the market downturn, some Solana DApps remain in the top 10 with commissions and surpass large -scale competitors such as the main staying solutions of Uniswap and Ethereum.
7 -day fees, USD rankings. Source: Defillama
Solana’s Memecoin Launchpad Pump.fun, Distributed Exchange Jupiter, Automated Market Manufacturer and Liquid Provider Meteora and Stacking Platform JITO are one of the leaders of fees. In particular, Solana’s weekly basic hierarchy surpassed Ethereum, which has the highest position of $ 53.3 billion on TVL.
SOL derivatives are steadily maintained because the fear of the token lock is sinking.
Although the price of the SOL decreased by 27% for 30 days, as indicated by the futures financing rate, the demand for leverage positions maintains the balance between Long (buyer) and shorts (sellers).
SOL futures 8 -hour financing ratio. Source: COINGLASS
The high demand for the weak bet is generally -0.02%of the 8 -hour permanent futures funding rate, which is 1.8%per month. If the fare is changed to negative numbers, shorts are paid to maintain their position. The other party occurs when the trader is optimistic about the price of the SOL, when the financing rate rises by more than 0.02%.
The recent price weakness was not enough to instill confidence in bears at least enough to add leverage positions. One reason for this can be explained by the decrease in the growth of the fleeing supply similar to the inflation. In April, a total of 27 million flakes will be unlocked, but only 0.7,9 million are expected in May and June.
Ultimately, SOL has been well positioned to reclaim the last $ 170 level on March 3, as the supply decreases for the next few months.
This article is for general information purposes and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.