Summary
Solana reached a two-year peak above $150, following Bitcoin and Ethereum’s rise. The surge is driven by growing DeFi trading volume and meme coins on Solana. Solana DEX volume surpasses Ethereum’s, with TVL doubling in a month. Ethereum TVL remains significantly higher.
Key Points
1. Solana rose above the $150 price point on Friday for the first time since January 2022.
2. Solana has surged in value in recent weeks, rebounding alongside the rest of the market while continuing the upswing that brought its price above $120 in December before momentum quieted for a couple of months.
3. Trading volume on Solana decentralized exchanges (DEXs) sits at $2.7 billion over the past 24 hours, surpassing Ethereum, with Solana-based meme coins riding the latest wave of crypto hype.