Solana remains strong, leading DEX volume for the fifth month with $105B in February. Meanwhile, over $700M in assets moved to its chain, with $400M from Ethereum.
NFT adoption is also rising, with 146K users. As Solana breaks key resistance, new price targets come into view.
Solana continues to dominate DEX volume statistics, just as it did in previous months.
Solana maintains its position as the leader for five consecutive months without any indication of stopping. The February data confirms that Solana maintains its position at the top.
Trading volume continues to grow steadily, according to data from DeFiLlama. The chain established $105 Billion in total trade in February, which strengthened its established leadership position.
Binance Smart Chain and Ethereum maintained second and third positions, while Base and other chains trailed behind. The ranking system maintains Solana as the first entry every time it repeats.
Users choose platforms based on their speed, performance, minimal fees and reduced costs. The platform maintains robust transaction liquidity across its wide network because transactions process at high speed.
The market data indicates this trend will persist for additional days as Solana maintains its position at the top of the market as the best platform.
Solana Sees Over $700M in Bridged Assets, With Ethereum Leading the Flow
Solana received more than $700 Million worth of assets from different blockchain networks in February, demonstrating its growing popularity for cross-chain liquidity.
Ethereum contributed the largest segment of this movement, which resulted in over $400 Million worth of bridged assets.
Solana’s ecosystem attracts traders and liquidity providers as they are redirecting their assets from Ethereum to Solana.
SOL also attracts Ethereum users because it provides better transaction speed and lower fees than Ethereum’s congested network.
The total assets transferred during Ethereum-to-Solana transactions were $419.87 Million. Also, the data demonstrates Solana’s growing significance in multi-chain operations because users and liquidity continue to shift toward its network.
The total assets transferred during Ethereum-to-Solana transactions were $419.87 Million. Also, the data demonstrates Solana’s growing significance in multi-chain operations because users and liquidity continue to shift toward its network.
The continuous flow of assets indicates that users believe in Solana’s ability to execute while scaling its DeFi and NFT ecosystems.
Solana Leads NFT Adoption with 146K Users, Holding 32% Market Dominance
Solana continues to lead the NFT user market, as activity surged during the past month. User activity on Solana reached its highest point during the previous month by holding 32% market dominance.
The recent statistics reveal that 146K users conducted trades on this platform. The count represents one-third of the total market share as Solana maintains dominance over its competitors.
The second-place Polygon recorded 119K participants in the race. Ethereum maintained 86K users, but Base users reached only 62K.
The steady flow of activity on SOL kept other chains at a distance. The data reveals an ongoing pattern as users continue to increase and spend money.
The combination of quick trades and low fees makes NFT traders satisfied with their experience. Moreover, the marketplace infrastructure has enabled the platform to attract additional users into its territory.
Solana Price Breaks 2021 Downtrend, Eyes $1,099 as Bullish Momentum Builds
The Solana price has surpassed its 2021 downtrend while staying above its essential resistance point, which indicates a probable long-term bullish trend.
The breakout pattern on the chart shows the crypto is validating its previous resistance level by turning it into support within the yellow-circled area.
The trendline has transformed from selling pressure to buying support, which strengthens the validity of the breakout.
Also, the top left breakout trading strategy diagram shows the pattern formation, which suggests that continued support at this level might create a prolonged upward price movement.
Furthermore, the chart displays four essential price targets that start with $400 before reaching $680, then $1,000, and finally $1,600 as extended-term goals.
A positive upward trend will continue for Solana if it breaks through the downtrend line.
Source: https://www.thecoinrepublic.com/2025/03/04/how-plausible-is-solanas-1000-price-target/