Key Notes
- Solana price breaks above $210 on Sunday, Aug 24, hitting its highest level since February, while other major cryptocurrencies retraced over the weekend.
- On-chain data confirms Solana has outpaced Ethereum in DEX trading volumes for 10 straight months, surpassing $124B in July.
- Wormhole bridge flows reveal persistent demand for SOL in on-chain transfers, emphasizing active internal catalysts behind Solana’s ongoing rally.
After crossing the $210 mark on Friday for the first time since February, Solana price advanced further over the weekend. While macro-driven rallies cooled elsewhere, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all retracing considerably, Solana’s upside momentum persisted. At press time, Solana price has notched a fresh intraday peak of $211, its highest since February 12.
On-chain activity shows that Solana’s bullish catalyst extends beyond Federal Reserve rate-cut speculation, which triggered major market rallies on Friday.
This week in data by @SolanaFloor:
Solana outpaced Ethereum in DEX trading volume for the 10th consecutive month, reaching $124B in July, 42% higher than Ethereum. pic.twitter.com/TT0nb8wrtm
— Solana (@solana) August 23, 2025
According to data shared by community contributor SolanaFloor, Solana has now outpaced Ethereum in decentralized exchange (DEX) transaction volumes for 10 consecutive months. In July alone, Solana processed $124 billion in DEX trades, outpacing Ethereum by 42%.
The latest data from Wormhole bridge further illustrates why this trend may sustain. Solana accounted for 42.71% of all on-chain transfers, narrowly beating Ethereum’s 42.53%.
Solana Cross Chain Transfers over the last 30 days | Source: Wormhole, August 24
Moreover, Solana attracted over $222 million in bridged inflows, while Ethereum secured only $183 million in inflows from Solana over the past 30 days. This suggests Solana is becoming the more attractive liquidity hub, pulling capital away from Ethereum and encroaching DeFi market share.
In summary, Solana’s edge in DEX volumes, combined with rising spot trading volumes, signals that demand for SOL in DeFi transactions continues to propel prices even as speculative momentum cooled in other top cryptocurrency markets over the weekend.
Solana Price Forecast: Can SOL Sustain Above $200?
Solana’s price action is consolidating above the $205 zone after last week’s breakout. The daily chart shows buyers firmly defending this threshold, with the 20-day SMA at $191 acting as reliable short-term support.
The MACD indicator is trending higher, with the histogram printing green momentum bars, while the moving averages remain in bullish alignment. This validates the breakout above $200 and suggests scope for further gains if momentum persists.
Solana Price Forecast | TradingView
On the upside, the immediate target lies at $215, where resistance from March highs could emerge. A clean move through $215 may open the door toward $228 and eventually $240. For bullish momentum to remain intact, Solana must hold above $200 on closing timeframes.
Conversely, if SOL price slips below $200, sellers may attempt to drag SOL back to $191 support. A breakdown there could trigger a deeper pullback toward the $179 demand zone. Losing that level would risk invalidating the broader bullish trend and bring $158 back into focus.
Solana price action will likely continue on the bullish trajectory as long as $200 support holds. However, it remains to be seen if the weak market momentum will limit demand for DeFi transactions in the week ahead.
Best Wallet Presale Tops $15 as Solana Gains DeFi Market Share
Solana’s surge in DeFi activity has also directed investor attention toward secure multi-chain solutions like Best Wallet (BEST).
Best Wallet Presale
The project has already raised over $15 million in its presale, offering users low transaction fees, attractive staking yields, and priority access to decentralized applications. Designed with multi-chain compatibility, Best Wallet is positioning itself as a go-to choice for traders navigating between ecosystems like Solana and Ethereum.
The presale momentum signals rising demand from users prioritizing both asset security and yield opportunities. With discounted entry tiers still available before the next price increase, investors have a window to secure BEST tokens early via the official Best Wallet site.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.