Binance Retains Market Dominance as Solana (SOL) Rallies 20% in a Week

Solana (SOL) has surged by 20% over the past week, reclaiming key resistance levels and sparking bullish sentiment among traders. Meanwhile, Binance continues to dominate the centralized exchange (CEX) market despite broader industry challenges. Below is a detailed analysis of these developments.

Solana (SOL) Surges 20% in a Week, Eyes Higher Targets

Solana has gained 1.34% in the last 24 hours and 20% over the past week, reclaiming key resistance levels after dipping to $96. SOL is currently trading around $134, with 71.87% of Binance traders holding long positions, indicating a bullish sentiment. If SOL holds above $130, it could continue its push toward the $150 mark.

Binance Maintains Leading CEX Position Despite Market Downturn

Binance held 36% of the centralized exchange (CEX) market share in Q1 2025, with a total trading volume of about $8.39 trillion. This represented a decrease from the $9.95 trillion volume in Q4 2024, in line with the general market trend. The overall cryptocurrency trading volumes dropped 12.5% during the quarter due to waning hype after Trump’s inauguration. Total spot trading volume across the top 10 exchanges was $4.6 trillion, a 13.1% decrease from Q4 2024. Binance maintained its position as the leading CEX despite these declines.