Solana Rally: DEX Volume Surge Sparks SOL Uptick!!

Solana (SOL) experienced a clear burst of activity last week: decentralized exchange (DEX) trading volume spiked sharply, total value locked (TVL) climbed, and SOL price traded with notable volatility around the $60 level. These moves were tied to concrete on‑chain metrics and two headline catalysts — a high‑profile institutional endorsement and regulatory progress on a spot SOL exchange‑traded product. Below is a concise, data‑driven look at what moved SOL, why it mattered, and what traders should watch next.

DEX Activity and TVL: What moved SOL?

Measured volume jump and where it came from

According to public analytics sources, Solana DEX trading volume rose roughly 54% over the week, reaching about $3.0 billion. That surge was concentrated on a handful of AMMs and liquidity venues; Raydium and Orca accounted for the majority of the increase. Higher DEX throughput typically translates into rising fees, more on‑chain swaps, and increased visible velocity—factors that often precede or accompany price spikes on layer‑1 protocols.

TVL moved higher alongside trading

Total value locked on Solana jumped by about 42%, lifting TVL from the prior week’s levels to roughly $580–585 million. An expanding TVL signals renewed capital commitment to Solana‑native yield and liquidity opportunities, reinforcing the narrative that traders and liquidity providers were rotating capital back into the chain during that period.

Price Action: Technicals and catalysts

Short‑term price moves and technical levels

SOL’s price rose above $60 during the uptick and hit a weekly peak near $67.7 before retracing toward the mid‑$50s; at the most recent check it was trading around $60. Short‑term technical support appears to be forming near $58, with resistance clustered between $60 and the $67 high. The pattern — rapid advance followed by a partial pullback — is consistent with volume‑led rallies that meet profit taking at legacy resistance zones.

Two concrete catalysts: institutional endorsement and ETF approval

Two tangible news items amplified market attention. First, a public bullish remark from a noted institutional investor coincided with a strong intraday move, illustrating how influential endorsements can accelerate trading flows. Second, regulators in Hong Kong approved a spot SOL ETF, a formal development expected to broaden institutional access. Paradoxically, the ETF approval did not translate into unambiguous upward momentum; the market delivered a mixed response, with some profit taking and a modest pullback following the initial euphoria.

What this means for traders and builders

For traders: rising DEX volume and TVL create higher near‑term liquidity, which can support intraday opportunities but also increase volatility. Key levels to monitor are immediate support near $58 and resistance through the $60–$68 band. For builders and validators: renewed liquidity and capital inflows improve yields and can attract new projects, but longer‑term developer activity and user retention will be decisive for sustained gains.

Risk management remains essential: headline endorsements and regulatory approvals can amplify momentum but often trigger sharp reversals as short‑term traders lock in gains.

Actionable watchlist

• Monitor DEX volume and TVL updates daily for confirmation of sustained capital inflow.
• Watch on‑chain liquidity metrics for Raydium and Orca as leading indicators of broader Solana activity.
• Track headlines on spot ETF rollouts in other jurisdictions (U.S. filings, EU/HK implementation details) for potential follow‑through demand.
• Respect the $58 support zone and adjust position sizing around volatility spikes tied to news events.

Conclusion

Last week’s Solana activity combined measurable on‑chain metrics and clear headlines: a ~54% jump in DEX volume and a ~42% TVL increase translated into a volatile but constructive SOL price move above $60, with a peak near $67.7 and a subsequent pullback toward $58–$60. Two concrete catalysts — a high‑profile institutional endorsement and Hong Kong’s approval of a spot SOL ETF — helped concentrate flows, though the ETF news produced a mixed immediate reaction rather than a sustained parabolic run. For traders, the data shows that liquidity and trading velocity on Solana are back in focus; for builders, renewed capital brings opportunity but also competition. Keep watching DEX volumes, TVL, and regulatory signals: they will likely determine whether this episode becomes a lasting upswing or a short‑lived retracement.