Why is Solana (SOL) price up today?

Quick Summary:

Increased Solana network inflowsSolana’s network activity has surged, driving capital inflows. Crypto market participants have bridged more than $120 million in liquidity from other blockchains to Solana over the last 30 days, according to data from deBridge. The highest amount was transferred from Ethereum at $41.5 million, followed by a $37.3 million influx from Arbitrum.

Source: CoinGeckoFurther analysis reveals that the total value locked (TVL) on Solana has increased by 12% over the last seven days to rest at $7.08 billion on April 17, pulling ahead of competitors such as Tron, Base, and Berachain, according to data from DefiLlama.

Source: deBridgeThe current liquidity influx to Solana coincides with the return of double-digit price rallies from memecoins as Popcat (POPCAT), Fartcoin (FARTCOIN), and Bonk (BONK) rose 50%, 26% and 13%, respectively, over the past seven days.

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Author / Journalist: Cointelegraph by Nancy Lubale

Category: Crypto

Markets: United StatesCanada

Topics: What is solana price Altseaon Altcoins DeFi SOL price Solana ETF Web3 Solana price analysis Altcoin season Why is solana price up today Bitwise Solana

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Article Type: News Report

Published On: 2025-04-17 @ 12:28:34 (3 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 666 words

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Copyright Owner: © Coin Telegraph

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