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Simon Chandler
Simon Chandler
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Solana has fallen by 2.5% today, with its move down to $200 coming as the cryptocurrency market as a whole suffers a 1.5% loss in the past 24 hours.
SOL is now also down by 16% in a week, yet its declines today come as a new report from Messari finds that total revenues for all Solana-based apps rose to $840 million in Q4 2024, up from $268 million in the previous quarter.
This highlights the considerable growth Solana is currently enjoying, and while its token price has declined along with the wider market, it also suggests that a big rebound should be coming very soon.
Solana Revenues Skyrocket to $840 Million – Could SOL Price Hit $1,000?
Looking at Messari’s report, we also see that Solana is now the second-biggest network in terms of its TVL, which stood at $8.6 billion at the end of Q4.
In fact, data from DefiLlama shows that its TVL continues to grow, and now stands at $9.38 billion, as of writing.
Other positive findings from Messari include a 171% increase in average daily fee payers (to 5.1 million) and a 33% increase in its liquid staking rate, to 11.2%.
Messari’s report also noted how Solana saw some important upgrades in Q4, such as the release of the Agave V2.0 client, as well as ongoing development on Jump Crypto’s Firedancer client, which is due in either Q1 or Q2.
This implies that we can expect to see Solana continuing to grow over the coming year, which in turn points to a steadily rising SOL price.
And today, its chart shows that the coin is getting closer to a rebound, with its indicators looking as though they’ve bottomed out.
This is what we see with its RSI (purple), which is showing signs of rising after dropping below 30 earlier in the month.
And it seems that SOL’s 30-period average (orange) has neared its bottom, again implying a recovery.
Based on these assumptions, and based on the expectation of a recovery for the wider market, the Solana price could return to $230 by Q2.
A New Solana Token for New Gains
Solana is expected to be one of the top-performing major cryptocurrencies in 2025, but it won’t be the only altcoin to see significant gains.
Smaller, newer altcoins could also perform exceptionally well, with some of the bigger presale coins potentially on course to surge when they list in the coming weeks.
One standout presale token right now is Solaxy (SOLX), which has already raised over $18 million in its ongoing token sale.
What makes Solaxy exciting is that it’s preparing to launch Solana’s first-ever layer-two network.
This innovation will help Solana users avoid common issues like failed transactions, network congestion, and outages, which continue to affect the main layer-one chain during high traffic periods, despite recent upgrades.
SOLX will serve as Solaxy’s native token and will serve to pay transaction fees, meaning that it could witness very strong demand.
Interested investors can purchase SOLX through its official website, where it is currently priced at $0.001626.
This price will rise multiple times before the sale ends, so now is the best time to buy if you want the biggest returns.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
