Solana: Still Not Exploding 🤯

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Right. So, it appears Solana is, and we use the term loosely, ‘dominating’ in the wonderfully baffling world of decentralized finance. July saw its DEX activity reach a staggering $124 billion. Which, if you were to stack it, would probably reach… well, somewhere. For ten months running, it’s out-performed Ethereum. Ten. Straight. Months. Apparently, that’s significant. Analysts are saying – analysts always say things, don’t they? – that this is a ‘clear shift’ in user behaviour. As if people weren’t just bored and trying something different. 🤔

Developers Are… Moving

And, get this, developers are apparently flocking to Solana like moths to a slightly less buggy flame. A group called Alliance DAO (sounds suspiciously like a villainous organization) reports that over 40% of new project founders opted for Solana in the first half of 2025. That’s up from 25% last year. So, a 15% increase. Thrilling. This is because Solana is supposedly ‘fast’ and ‘cheap’. Which, in the grand scheme of things, is merely… acceptable. For now.

Apparently speed and predictable fees are what developers crave. Who knew? It’s not like building something fundamentally unstable on a different platform was a viable option. 🙄 Such groundbreaking revelation!

This week in data by @SolanaFloor:

Solana outpaced Ethereum in DEX trading volume for the 10th consecutive month, reaching $124B in July, 42% higher than Ethereum.

– Solana (@solana) August 23, 2025

This, we are told, creates a ‘feedback loop.’ More throughput, more users, more developers. It’s a cycle. A terrifying, relentless cycle of… things happening. ♻️

Price Signals and Other Confusing Numbers

SOL, it seems, is lurking ‘above the $205 zone’. A zone. How delightfully vague. There’s a ‘20-day SMA’ at $191, which apparently matters to someone. And the MACD is showing ‘green movement bars’. What this *means* remains unknown, but traders are interpreting it as ‘upward momentum.’ Which could mean absolutely anything.

$SOL is on a one-way ticket to the moon. After a brutal drop, Solana has found its footing and is riding a perfect uptrend channel. The path to $300 is wide open

– 𝐊𝐚𝐦𝐫𝐚𝐧 𝐀𝐬𝐠𝐡𝐚𝐫 (@Karman_1s) August 24, 2025

Resistance points are at $215, $228, and $240. Because, naturally, things must be resisted. A chap named Kamran is predicting $300. Which is a long way to go. But hey, predictions are free. And often wrong.

Meanwhile, Ethereum is having a bit of a wobble. A ‘choppy’ wobble. It briefly plummeted and then recovered slightly. Ali on X (formerly Twitter, because rebranding is essential) declared it ‘SO OVER!’ It’s good to see someone is having a strong opinion about something. 🤷

IT’S SO OVER! $ETH

– Ali (@ali_charts) August 24, 2025

So, Solana’s doing well, and Ethereum’s… existing. The market is ‘fragmenting’, apparently. Different things are happening on different chains. Which is, if you think about it, exactly what you’d expect.

The move to Solana is, we are assured, about ‘throughput limits’, not a wholesale rejection of Ethereum. Right. Of course. It’s *always* about the throughput limits. Never about existential dread or the inherent meaninglessness of it all.

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2025-08-25 12:43