Solana is seeing a substantial increase in network activity, driving its price towards $200. Currently trading at $147.25, Solana outperforms Ethereum in transaction volume and fees, processing over 410 million transactions last week compared to Ethereum’s 8.6 million. Furthermore, Solana’s fees have reached over $400 million this year, suggesting continued bullish momentum.
Solana’s network activity has ramped up dramatically, pushing its price potentially toward the elusive $200 mark. As of Wednesday, April 30, 2025, the cryptocurrency trade value was at $147.25, only slightly below last week’s peak of $156. Notably, this figure shows a staggering 52% increase from its year’s lowest price, which has traders buzzing with enthusiasm.
Diving into recent statistics, third-party data sources have pointed out Solana’s strong performance, particularly in comparison to its main rival, Ethereum. According to insights from Nansen, Solana has processed over 410 million transactions in the past week alone, which is a 10% increase from the previous week. This surge aligns with the hype around several popular meme coins within Solana’s ecosystem such as Fartcoin, Dogecoin, Bonk, and even Official Trump.
The uptick in transactions has also led to a noticeable jump in network fees, which saw an increase of 22%, resulting in over $9.3 million collected during the recent seven-day period. For some perspective, Ethereum only managed about 8.6 million transactions during this same time frame — making Solana a whopping 47 times more active. In terms of network fees, Solana reported earnings of $4.45 million, also outpacing Ethereum significantly.
Over the past month, this trend has continually favoured Solana. It processed a staggering 1.58 billion transactions, while Ethereum lagged far behind at 36 million. The data from TokenTerminal reveals that Solana’s network fees have amassed over $400 million this year, which again exceeds Ethereum’s earnings that sit at $241 million.
On another note, Solana excels in the decentralised exchange protocols as well: it handled over $68 billion in volume over the last 30 days, leaving Ethereum’s $56 billion in the dust.
From a technical standpoint, Solana’s price has shown resilience, bouncing back from a low of $94.87 amid concerns regarding its meme coin ecosystem. Last week, it peaked at $156.55 and is maintaining support above a key level of $121. Currently, SOL has moved above both the 50-day and 25-day Weighted Moving Averages.
Right now, it appears to be forming a bullish flag pattern, which consists of a flagpole followed by a period of consolidation. If a breakout occurs, we could see this lead to an upward trend, with initial targets estimating a potential price of $200. That represents a promising 32% increase from its current level. However, a slip below that essential support level of $121 could throw a wrench in this optimistic projection.
