🚀📊 Solana Market Cap Hits $117B: Is a $400 $SOL Price on the Horizon?

🚀 Solana Surges to $247, Market Cap at $117B
Solana (SOL) has resumed its upward trajectory, rising 3.42% to $247 with a market cap of $117 billion. Daily trading volumes surged by 21.4% to $7.97 billion, reflecting strong market interest. SOL has rallied 340% in 2024, now testing the critical $240-$250 resistance zone.

📈 DeFi Activity Hits New Highs
On-chain metrics show Solana’s DeFi activity booming, with its Total Value Locked (TVL) reaching a record $10.57 billion. The integration of Sky Protocol’s USDS stablecoin is expected to enhance network liquidity, boosting DeFi adoption further.

🌟 Address Activity Grows Exponentially
Daily active addresses on Solana have surged from under 1 million in August to over 5.7 million, signaling organic demand. This growth highlights rising interest from both retail and institutional investors, positioning Solana as a top contender in the crypto space.

🏆 Climbing the Crypto Rankings
Solana has overtaken BNB Chain to become the 4th largest cryptocurrency by market cap. If momentum continues, SOL could challenge USDT for a top-three position, reinforcing its dominance in the market.

💡 Bullish Long-Term Projections
Crypto analyst CryptoRus forecasts a $4,000 SOL price during this cycle, citing a breakout from a “Cup & Handle” pattern with a potential target of $5,000. Despite some transfer volume driven by bots, Solana’s strong fundamentals support its long-term bullish outlook.