Solana: To the Moon…Again? 🚀

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So, Solana. It’s hit $100 billion in market cap again. Honestly, keeping track of these things feels like watching paint dry, but with more exclamation points. It’s up 6% in the last 24 hours, which is good, I guess. Meanwhile, everyone seems to be getting a little bored with Bitcoin and are turning their attention to the usual suspects: Ethereum, Dogecoin (still!), and Cardano. It’s a bit like a digital dating app, constantly swiping left and right. 🙄

Solana DeFi TVL Hits $10.26B

The ‘DeFi ecosystem’ – which is basically a fancy way of saying people are locking up their money in complicated online boxes – is apparently booming. It’s now worth $10.26 billion, the most it’s been in almost half a year. And wouldn’t you know it, this is largely because the price of SOL went up. It’s a truly remarkable cycle of…well, I’m not entirely sure what it is, but it’s happening. Jito Sol, Jupiter Exchange, and Kamino Finance are leading the charge, apparently.

REPORT: @Solana DeFi TVL has surged to $10.26 billion for the first time in 23 weeks, driven by $SOL price appreciation.

Top DeFi protocols:
> Jito Sol: $3.09 billion
> Jupiter Exchange: $2.90 billion
> Kamino Finance: $2.89 billion

— SolanaFloor (@SolanaFloor) July 21, 2025

Apparently, folks are sending money *to* Solana now. A whopping $180 million has been bridged from other blockchains in the last week. Ethereum sent over $90 million – that’s a 44% jump! They must be regretting all those missed opportunities. 🤷‍♀️

And get this: people are actually trading Solana directly *on* Solana, rather than using those old-fashioned centralized exchanges. More liquidations are happening on-chain than off-chain. It’s a sign of changing times, I suppose. Or just a good marketing gimmick. Who knows?

Retail Interest and Short Squeeze Push SOL Toward $200

Over $11 million in SOL short positions got absolutely obliterated in the last 24 hours as the price hit $191. One poor soul lost $1.13 million at $188. Ouch. Serves them right for betting against the internet, really. It’s a classic case of the little guy…or, in this case, the slightly-less-little-guy-with-a-lot-of-crypto…getting squeezed. 💸

And people are getting excited again! Open interest in SOL futures is up, trading volume is up 80% – it’s all very frantic and energetic. It appears that even more short-sellers are about to meet a painful end, potentially propelling SOL past the $200 mark. Don’t say I didn’t warn you.

Strong Inflows Keep Solana in the Spotlight

Some clever people at CoinShares have noticed that Solana-based ETFs and funds saw $39.1 million in inflows last week. Bitcoin still dominates with $2.19 billion (predictable!), but Solana is holding its own. It’s also been the top blockchain for network revenue for a rather impressive 17 weeks straight. Clearly, something is working. Or, you know, luck. 🍀

Analysts Eye Breakout 

Currently, Solana is wobbling around $190.80, up 5.7% today. An analyst named Ali Martinez thinks $189 is the magic number. Apparently, if it breaks above that, the sky’s the limit. Or at least, there aren’t many things standing in the way. It’s all very dramatic.

Once Solana $SOL breaks above $189, there’s little standing in the way of a continued rally.

— Ali (@ali_charts) July 21, 2025

Glassnode says about 8 million SOL were bought near $190, which means it’s a bit of a sticking point. But if it *does* break through, and people remain enthusiastic, the price could, theoretically, go up. There’s a lot of “ifs” in that sentence. Just saying. 🤔

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2025-07-21 16:13