Key Insights:
- Solana has topped all blockchains with $4.83 million in daily app revenue.
- Analyst Ali Martinez predicts a possible retest of the $260 price level.
- ETF filings in the U.S. and Hong Kong lift investor interest in Solana.
Solana news currently trending shows the chain is leading rival blockchains in app revenue as traders eye a possible move toward $260 amid ETF progress and strong network growth.
Solana (SOL) may be on its way to retest $260 as it leads all blockchains in daily app revenue and draws attention from traders and investors.
Analysts say strong network activity and ETF progress could shape its next move as it holds near the $190 support zone.
Solana News: The Lead in App Revenue
Solana has topped all blockchains by app revenue in the past 24 hours. Data shared by The Solana Post on X shows Solana with $4.83 million in app revenue.
The blockchain is ahead of Binance Smart Chain (BSC) at $3.85 million, Hyperliquid L1 at $2.97 million.
Others, such as Ethereum, are at $2.7 million. Base, edgeX, Arbitrum, and Polygon followed with lower totals.
If anything is clear, this ranking shows that Solana’s network activity remains strong.
The chain continues to attract new users and projects. Its growth also points to higher transaction demand compared to other major blockchains.
It is important to add that the community views this as a positive sign for Solana’s market position.
Per the Solana news, some market participants believe that consistent app revenue could support a price recovery if trading volumes increase in the coming weeks.
Market watchers say that Solana’s growth across decentralized applications shows ongoing interest in its ecosystem.
This performance comes at a time when most networks are seeing mixed activity, suggesting that Solana still holds investor attention.
Analyst Ali Sees SOL Price Retest Toward $260
Analyst Ali Martinez said that SOL price could be looking to retest $260. As of writing, it was trading at $189.45.
Other market trends show that the digital asset is again testing support around $190, a level that has served as a base since late August.
On Solana’s daily chart, the 20-day moving average has crossed below the 50-day moving average.
Market watchers explained that this pattern can signal weakness in the short term. If Solana falls below $190, it may drop to $170, which was last week’s low.
However, it was stated that a clear move above $211 would change the trend and open a path toward higher prices.
That could bring the Solana price closer to the $260 level mentioned in his analysis.
Johnny, another market observer, said that Solana’s network “needs a new runner” to drive activity.
He pointed to the talk of a Solana ETF possibly launching in the fourth quarter as a reason to expect stronger on-chain performance.
These comments show a wider view in the community that Solana’s price could rise again if technical signals improve and new market catalysts appear.
Solana ETF Progress Adds to Market Interest
In another news, there is a boosted sentiment around SOL price. SolanaNews.sol posted that the world’s first Solana spot ETF is launching in Hong Kong.
Around the same time, asset manager 21Shares filed a Form 8-A with the U.S. Securities and Exchange Commission, a step that brings its Solana ETF closer to approval.
These two developments are separate, but both show growing interest in Solana from financial institutions.
Market watchers believe that ETF products can attract new capital by giving investors an easier way to gain exposure to digital assets.
If approved, the ETFs could help bring more attention and liquidity to the Solana market. Some traders expect this to support long-term demand for the coin.
Still, SOL price short-term outlook remains tied to its ability to hold the $190 support level.
A move above $211 could shift momentum back in favor of buyers. Combined with strong app revenue and growing ETF attention, many in the market see reasons for cautious optimism.
For now, Solana stands out as the top-earning blockchain and one of the most active networks.
Whether it reaches $260 will depend on how it handles current market pressure and how investors respond to upcoming ETF launches.