Solana [SOL] is back in the spotlight after posting a record-breaking $6.701 billion in 24-hour DEX volume, exceeding the combined activity of all Layer 1 and Layer 2 networks.
The surge has reignited bullish conversations across the crypto market, especially as SOL edges closer to a major resistance zone near $150.
At first glance, the spike in DEX volume signals more than just speculative noise. It reflects a clear shift in trader behavior. Capital is flowing back into Solana-based protocols at a pace not seen recently.
As activity ramps up, liquidity deepens. That combination often strengthens price discovery and reduces downside friction during volatile sessions.
Source: DeFiLlama
Solana ETFs hit record inflows
Meanwhile, institutional interest appears to be aligning with on-chain growth. Over the last 24 hours, Solana ETFs recorded cumulative inflows of $801.31 million, reinforcing the idea that larger players are positioning for longer-term exposure.
BSOL led the pack with 638 million, followed closely by GSOL with 130 million. Only TSOL recorded negative inflows.
Unlike short-term spot buying, ETF inflows typically represent strategic capital. This kind of participation tends to support price stability during key technical tests.
Source: SoSoValue
Institutions are also ramping up demand
At the same time, derivatives markets are flashing their bullish signals. Solana’s Open Interest (OI) has climbed sharply to hit 3.35 billion, pointing to fresh positions entering the market rather than traders exiting existing ones.
Referring to the past observations, rising OI alongside strong network activity often suggests conviction. The surge also hints at a projected surge in the token’s market volatility ahead.
Source: Coinalyze
How THIS barrier could stop SOL’s rally
Attention now shifts to the $150 resistance level, a zone that has historically served as both a psychological and technical barrier.
How price reacts here could determine SOL’s short‑term direction. A decisive break above $150 would confirm strong demand and potentially trigger accelerated upside as sidelined capital re‑enters the market.
That said, resistance often signals caution. Profit‑taking by early traders and investors can lead to temporary pullbacks as gains are locked in.
Even so, when pullbacks occur alongside strong volume and inflows, they tend to reset momentum rather than reverse the trend.
What could be next for Solana?
Taken together, Solana’s dominance in DEX volume, strong ETF inflows, and expanding OI form a compelling narrative. Network usage is rising. Institutional confidence is building. Market participation is broadening.
If these trends persist, SOL may be setting the stage for its next major move. The coming sessions, around $150, will be crucial. For now, momentum appears firmly on Solana’s side.
Final Thoughts
Solana overtakes all L1 and L2 chains combined in 24-hour DEX volume.
ETF inflows and rising OI suggest institutional positioning ahead of a potential $150 test.
Next: ‘Industrial-grade settlement’ – Does XRP now have an edge other altcoins don’t?
