Recently analyzing on-chain data of Solana, I discovered an interesting phenomenon—TVL suddenly jumped to $9.29 billion, a 12% increase. This is not some superficial number game, but a genuine signal of capital inflow.

SOL rebounded from its year-end low to the present, now stabilizing around $140. A weekly increase of 7% doesn't seem particularly aggressive. But there's a detail that’s easy to overlook: trading volume surged by 19%, while the price only moved slightly by 0.5%. This mismatch often indicates that accumulation is quietly underway, with large investors silently building positions.

On-chain activity has also picked up, with NFT trading volume beginning to recover, and institutional ETF inflows remaining steady. Plus, Solana’s own technical strengths—high TPS and ultra-low fees—ensure it hasn't fallen behind in this round of competition.

From a technical perspective, short-term support is firmly at the $135-138 range, with resistance at $140-142. If a smooth breakout occurs, the path to 150+ could open up. Of course, no one can predict the market with certainty; macro factors like Fed interest rates can always cause disruptions. But looking at historical trends, after such structural adjustments, signs of sustained momentum usually appear.

In crypto, you really have to rely on data—otherwise, it’s too easy to follow the crowd and get caught. On-chain indicators, capital flows, sentiment—these all deserve thorough analysis.