Key results:

• TVL worth $ 10.9 billion Solana surpassed the entire Ethereum Layer-2 ecosystem.

• 30-day revenues from the Solana fee (USD 43.4 million) increased by 109% compared to the previous month.

• Financing index 8% Sola shows fit demand for bulls.

Native token Sol (SOL) Solana increased by 24.8% between May 6 and May 10, after a broader Altcoin Market rally after Bitcoin broke over USD 100,000. Since then, Sol has tried to stay above USD 180, but the data of derivatives and data onchain still suggest that further profits are in the store.

While Solana occupies the fifth largest cryptocurrency according to market capitalization, Solana Network is a deputy vice -trademan in key onchain indicators, including total blocked value (TVL).

The total salted value of $ 10.9 billion (TVL) exceeds the entire Ethereum Layer-2 ecosystem, which covers the base, arbitrum and avalanche. Even the BNB chain, which integrates without any problems with the Binance and Trust portfolio, cannot match the solar numbers. Noteworthy 30-day TVL increases for Solana include Raydium Dex, an boost of 78%, a Jito liquid solution, an boost of 41%and a marinade, which gained 56%.

The boost in revenues from fees increases demand and rush

Acquiring adhesion in decentralized finances (DEFI) does not always translate into demand into a native token, because some networks have extremely low fees. For example, in the last 30 days, the Ethereum network generated only $ 24.9 million of the basic layer fees, while the throne won $ 51.9 million, and Solana was $ 43.3 million, according to Defillama.

Revenues and fees for the Solan chain have shown a steady boost over the past four weeks. The latest numbers are approaching their highest levels for three months, which is very positive for SOL, because it drives demand. With 65% of the SOL supply involved in putting this dynamics, it also supports price rush.

Related: Solana’s co -founder offers a meta chain to repair blockchain fragmentation

To assess whether traders are becoming more hopeful about Sola’s price forecasts, it is helpful to look at the demand for the lever. A positive financing rate means that long items (buyers) pay for maintaining open transactions.

Currently, Sol Perpetual Futures Funding is 8%, which lives in a neutral range from 5% to 10% depending on the cost of capital. However, because SOL still trades by 40% below the highest level of USD 295 in history from January 19, there is no reason to have excessive optimism. Despite this, the growing activity in the Solana network suggests that SOL can soon reach USD 200, potentially exceeding its competitors.

The exact catalyst that could boost the price of Sole Higher, remains uncertain, but the possibilities include the potential approval of the Fund from the Solana Stock Exchange (ETF) in the USA, as well as the final inclusion of sooty in the strategic digital asset reserve. In addition, some analysts are optimists about the conventional tokenization of assets in Solan, which can unlock further value for SOL.

This article is used for general information purposes and should not be and should not be treated as legal or investment advice. The views, thoughts and opinions expressed here are themselves and do not necessarily reflect or represent the views and opinions of Cointelegraph.