Solana bull flag, rising stablecoin market cap hint at SOL price rally to $220

Quick Summary:

Solana’s daily transaction count has also increased by 25% over the last month to 57.77 million transactions.  While Ethereum and BNB Chain provide competition in terms of onchain volumes, the Solana network is the undisputed leader with daily DEX volumes standing at $2.61 billion at the time of writing.

Solana TVL and transaction count on the riseSolana remains the second-largest blockchain in terms of total value locked (TVL) and ranks first in DEX volumes. Solana's TVL has risen from $6.1 billion on April 9 to $7.65 billion on May 6, an increase of over 25% in almost 30 days.

Source: DefiLlamaSOL bull flag points to $220SOL price has formed a bull flag chart pattern in the daily timeframe, as shown in the chart below.  A bull flag pattern is a bullish setup that forms after the price consolidates inside a down-sloping range following a sharp price rise.SOL/USD daily chart.

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Article Details

Author / Journalist: Cointelegraph by Nancy Lubale

Category: Crypto

Markets: United States

Topics: Solana’s Billion Price Bullish Solana Transaction Market Pattern Stablecoin Increase Chart

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-06 @ 18:24:22 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 494 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 28445221

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