I’ve seen it too—<0>$SOL </0> has been kind of “tough” lately.
As of June 30, China time, $SOL is hovering around roughly 72U.
The overall market is still grinding along—BTC, BTC, BTC, and ETH all don’t have much spirit. SOL, on the other hand, is the one that’s really standing out first.
But brothers, don’t start yelling “bull is back” just because it’s been up for two days. In the past 30 days, SOL is still down overall—it’s just down less than $BTC and ETH.
So I think the more accurate way to put it now is:
SOL isn’t fully turning into a bull market—it’s just relatively more resilient in a weak market.
—
Why has it been strong recently?
① On-chain transaction activity has returned
Solana DEX’s daily trading volume over the past 30 days rose from about 1.4B U to 1.98B U, up more than 40%. This shows there are still people playing on this chain—people are chasing memes, people are trading.
② Fees are also picking up
Eco-system daily fees over the past 30 days are up 85%+.
This isn’t just from people shouting slogans—there’s genuinely work happening on-chain.
③ Derivatives liquidity is still strong
Open interest is around 5.5B U+, and 24-hour contract trading volume is at the 10B U level.
In plain terms, capital is still willing to use $SOL as the main underlying asset for trading.
④ The narrative hasn’t died
RWA, stablecoin settlement, institutionalization, meme ecosystem, high-performance public chain—these things are still adding points to Solana.
—
But there are also problems.
Solana TVL over the past 30 days has fallen from 5.3B U+ to around 5B U.
In other words, what’s happening now is more about trading activity and sentiment repair—real settled capital hasn’t fully come back yet.
So I won’t blindly shout that SOL is about to take off right now.
—
I’m mainly watching a few levels:
📍 65-71U: Hold—bounce structure is still there
📍 76-83U: If it breaks and holds above it, then it’s truly a bit stronger
📍 98-100U: More upside imagination down the road
📍 Below 60U: If it breaks, don’t get stubborn—defend accordingly
—
My view is simple:
SOL is one of the ones that can “fight back” in a weak market, but it’s not at the point where you should close your eyes and charge.
Hold 65-71, and you can keep looking for repair.
Once it’s above 83, the trend will look more like a real turn to strength.
If it breaks below 60, don’t talk feelings to the market.
This market is most afraid of one thing—not missing opportunities.
It’s afraid that after it’s up just two moves, you start thinking you’re about to achieve financial freedom again.
Watch with a small position—don’t get carried away.
Personal opinion only; this isn’t investment advice—DYOR. #MichaelSaylor暗示增持BTC
As of June 30, China time, $SOL is hovering around roughly 72U.
The overall market is still grinding along—BTC, BTC, BTC, and ETH all don’t have much spirit. SOL, on the other hand, is the one that’s really standing out first.
But brothers, don’t start yelling “bull is back” just because it’s been up for two days. In the past 30 days, SOL is still down overall—it’s just down less than $BTC and ETH.
So I think the more accurate way to put it now is:
SOL isn’t fully turning into a bull market—it’s just relatively more resilient in a weak market.
—
Why has it been strong recently?
① On-chain transaction activity has returned
Solana DEX’s daily trading volume over the past 30 days rose from about 1.4B U to 1.98B U, up more than 40%. This shows there are still people playing on this chain—people are chasing memes, people are trading.
② Fees are also picking up
Eco-system daily fees over the past 30 days are up 85%+.
This isn’t just from people shouting slogans—there’s genuinely work happening on-chain.
③ Derivatives liquidity is still strong
Open interest is around 5.5B U+, and 24-hour contract trading volume is at the 10B U level.
In plain terms, capital is still willing to use $SOL as the main underlying asset for trading.
④ The narrative hasn’t died
RWA, stablecoin settlement, institutionalization, meme ecosystem, high-performance public chain—these things are still adding points to Solana.
—
But there are also problems.
Solana TVL over the past 30 days has fallen from 5.3B U+ to around 5B U.
In other words, what’s happening now is more about trading activity and sentiment repair—real settled capital hasn’t fully come back yet.
So I won’t blindly shout that SOL is about to take off right now.
—
I’m mainly watching a few levels:
📍 65-71U: Hold—bounce structure is still there
📍 76-83U: If it breaks and holds above it, then it’s truly a bit stronger
📍 98-100U: More upside imagination down the road
📍 Below 60U: If it breaks, don’t get stubborn—defend accordingly
—
My view is simple:
SOL is one of the ones that can “fight back” in a weak market, but it’s not at the point where you should close your eyes and charge.
Hold 65-71, and you can keep looking for repair.
Once it’s above 83, the trend will look more like a real turn to strength.
If it breaks below 60, don’t talk feelings to the market.
This market is most afraid of one thing—not missing opportunities.
It’s afraid that after it’s up just two moves, you start thinking you’re about to achieve financial freedom again.
Watch with a small position—don’t get carried away.
Personal opinion only; this isn’t investment advice—DYOR. #MichaelSaylor暗示增持BTC
