Solana continues to recover from its sub-$100 lows of last month, bringing it to $140.
TL;DR
- Solana rises 6% to $140, TVL climbs to $9 billion.
- SOL attracts $120 million in bridged liquidity.
- ARK Invest gains exposure to staked Solana.
- Solana had more revenue than its competitors in Q1.
- Coinbase scales Solana infrastructure.
Introduction
Solana continues to recover from its sub-$100 lows of last month, bringing it to $140. Did we just fade the dip of the year? But price alone is only half the story:
- Solana generated nearly $370 million in revenue in Q1, outpacing its competitors.
- Over $120 million was bridged to Solana from other blockchains, with nearly 35% coming from Ethereum.
- Solana briefly surpassed Ethereum in terms of native token staking, with nearly $54 billion in staked SOL.
- Institutional interest is also ramping up. Consumer brand Upexi wants to raise $100 million to acquire Solana for its treasury. This follows fintech company Janover’s plan to acquire $40 million in SOL.
- Meanwhile, ARK Invest has also secured exposure to staked $SOL.
- In its latest tit-for-tat, Raydium finally rolled out LaunchLab, a token launchpad to rival Pump.fun.
Here’s a breakdown of what moved the needle in the Solana ecosystem last week.
Next week, we’ll also see two huge IRL Solana events that could shape conversations and connections within the ecosystem:
- Solana Crossroads — April 25-26, Istanbul, Turkey
- Solana Mega Mixer (Token2049 Dubai) — April 29, Dubai
Solana Numbers the Last 7 Days
Source: CoinMarketCap
- Price: $40, up 6%
- Market cap: $72.15 billion
- DeFi TVL: $8.897 billion
- Daily active addresses: >4.5 million
- 24H trading volume: $3.91 billion
Solana's total value locked (TVL) jumped 28% week-over-week to reach $8.897 billion.
Still on key metrics, the number of active wallet addresses rose 12.5% to hit 4.5 million. Is Solana on its way to its glory days?
Source: Artemis
After a few explosive weeks, Solana's DEX volume took a breather as it fell slightly by 2.43% to $14.778 billion.
Source: DeFiLlama
It was a week of mixed fortunes for Solana’s DEXs, with Raydium and Pump hitting double-digit growth, while Orca and Meteora gave up. Manifest Trade’s volume jumped nearly 400%.
Source: DeFiLlama
How Did Solana Stack Up Against Its Competitors?
The Fear and Greed Index increased to 38, up from 31 the previous week. Sentiment…loading.
Source: CoinMarketCap
It’s been a mixed week for the leading cryptocurrencies. Bitcoin posted a modest gain of under 3%, even after Strategy allocated $555.8 million to BTC.
Ethereum and XRP ended the week in the red. Solana outperformed the top 10 cryptocurrencies, outperforming its peers and reinforcing its momentum across multiple fronts.
Source: CoinMarketCap
Solana's applications generated $5 million in revenue in 24 hours, while Ethereum was far behind with only $1.07 million. Tron is the leader in network fees over the same period.
Source: DeFiLlama
Solana Ecosystem the Last Week
This week, the market volume and market cap for Solana's ecosystem tokens are slightly up.
Source: CoinMarketCap
- Solana’s ecosystem tokens posted steady gains over the week, showing relative strength as the market picked up. Of the top coins, only Bonk is down slightly.
Source: CoinMarketCap
Top Gainers:
- GMT (GMT): +29.96%
- Convex Finance (CVX): +25.76%
- Swissborg (SWISS): +11.83%
- Render (RENDER): +10.89%
- Raydium (RAY): +9.87%
Top Losers:
- Solana Swap (SOS): -22.25%
- Chintai (CHEX): -13.03%
- SPX6900 (SPX): -9.36%
- Virtuals Protocol (VIRTUAL): - 6.89%
- FTX Token (FTT): -4.13%
Solana DeFi
- There was another big move for Solana's DeFi as its TVL jumped from below $7 billion a week ago to nearly $9 billion.
Source: DeFiLlama
- Solana now commands over 9% of the total DeFi market share, extending its lead over BNB Chain, which holds just above 6%.
Source: DeFiLlama
Solana Meme Coins
- Solana-based meme coins piled out of the trenches this week, with Mother Iggy (MOTHER) leading the charge.
- Official Melania Meme (MELANIA) continues its losing streak. Officially not surprised.
Source: CoinMarketCap
Top Gainers:
- Mother Iggy (MOTHER): +37.01%
- Bobaoppa (BOBAOPPA): +27.99%%
- Myro (MYRO): +23.18%
- Popcat (POPCAT): +18.59%
- Fartcoin (FARTCOIN): +15.39%
Top Losers:
- hehe (HEHE): -21.04
- RETARDIO (RETARDIO): -14.49%
- Billy (BILLY): -14.03%
- Fwog (FWOG): -12.36%
- Official Melania Meme (MELANIA): -11.89%
Solana DePIN
Source: DePIN Scan
- Nosana (NOS) led Solana’s DePIN ecosystem this week with a 28.4% gain, standing out as the top performer in the category.
- Aleph.im followed with a solid 11% increase.
- Helium IOT (IOT) moved in the opposite direction, declining 7.2%, highlighting the mixed performance within the DePIN space.
NFTs
- Base and Ethereum maintain their current lead in the NFT space, with Solana claiming the third spot.
Source: NFT Pulse
Top 5 Solana News Stories
Solana’s Q1 Revenue Jumps, Surpasses Competitors
Solana generated $369.5 million in Q1 2025 revenue—a 163% year-over-year increase and nearly double Ethereum’s $220.8 million for the same period.
Coinbase Upgrades Solana Support
Coinbase has scaled its Solana infrastructure, delivering a five-fold increase in transaction throughput and major improvements in reliability and liquidity.
ARK Invest Adds Staked SOL to Tech ETFs
ARK Invest has gained exposure to staked Solana, adding shares of Canada’s 3iQ Solana Staking ETF (SOLQ) to its ARKW and ARKF funds.
$120M Bridged to Solana
Over the past month, $120 million in liquidity has flowed into Solana from competing blockchains, led by Ethereum and Arbitrum.
Upexi Builds $100M Solana Treasury Backed by GSR
GSR has led a $100 million private investment to help consumer product firm Upexi establish and grow a Solana-based treasury. Upexi plans to accumulate and stake SOL as part of its strategy, with its stock spiking over 600% following the announcement.
What You Can Do Now
- Track Solana’s Q2 revenue performance following a strong Q1 that outpaced Ethereum.
- Take advantage of Coinbase’s upgraded Solana infrastructure.
- Monitor institutional trends as ARK Invest adds staked Solana to two of its major tech ETFs.
- Keep an eye on liquidity flows, with $120 million bridged to Solana in just 30 days.
- Watch SOL price movements as Upexi commits $100 million to build a Solana treasury and stake holdings.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
