Solana Breaks $100 Milestone as TVL Growth Signals Potential Gains
Solana has surpassed the $100 milestone, driven by recent growth in its Total Value Locked (TVL) within the defi ecosystem. The surge in capital inflows and network participation rate indicate that SOL prices may continue to rise in the coming days.
Solana’s Price Reclaims $100 After a Turbulent Week
SOL prices experienced volatility in recent weeks. However, despite a network outage on Feb. 6, bullish SOL holders held their positions. On Feb. 8, SOL price surged to $105, thanks to the increasing defi activity attracting significant capital inflows.
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Solana TVL Hits 20-Month Peak
The TVL on Solana’s defi ecosystem crossed $1.8 billion on Feb. 8, reaching its highest point since June 2022. Projects built on the Solana layer-1 network, such as Jupiter (JUP), Jito, Kamino, and Blazestake, have attracted substantial investor attention and contributed to this milestone.
SOL Price Forecast: Potential Clear Path to $120
The organic increase of $500 million in TVL has been crucial in driving SOL’s 33.6% price rally from Jan. 23 to Feb. 8. With TVL still on an upward trend, there is a possibility of further price gains for SOL, potentially testing the coveted $120 territory in the near future.
