Solana’s DeFi Dominance Contrasts With SOL Price Decline: A Market Anomaly?

Despite Solana’s decentralized finance (DeFi) ecosystem hitting a 22-month high in Total Value Locked (TVL), its native token SOL has experienced a significant price drop. This divergence raises questions about market sentiment versus on-chain fundamentals.

Solana Dominates DeFi — So Why Is SOL Crashing?

Despite Solana’s (SOL) positive on-chain performance, with deposits in decentralized applications reaching a record high since June 2022, the price of SOL fell by 9% between March 28 and April 4. This disconnect between valuation and on-chain data highlights a potential undervaluation of the blockchain’s true potential.

Solana’s TVL Hits 22-Month High, SOL Price Risks Breakdown

Solana’s Total Value Locked (TVL) reached a 22-month high of $6.5 billion in April, outpacing rivals like BNB Chain and Tron in deposits and trading volumes. However, traders remain cautious as the SOL price eyes a breakdown below the $120 level. The native token dropped 9% between March 28 and April 4 and was trading at $119.83 at press time. Analyst Ali Martinez warned that $120 is a crucial level for Solana, having defined major trend shifts in the past. SOL’s failure to reclaim higher support zones despite strong TVL metrics has raised questions about investor sentiment, particularly after a major staking unlock last week.

Davinci Jeremie Predicts 20X Surge for Solana (SOL)

In a surprising turnaround from his recent bearish outlook, popular Bitcoin veteran Davinci Jeremie has issued a bold prediction for Solana (SOL), suggesting the crypto asset could experience a staggering twenty-fold price surge during the current market cycle. This prediction comes just days after he urged investors to dump all their altcoins for Bitcoin. In a Saturday analysis, Jeremie first warned short-term traders that any expectation of a short-term rebound was misguided, hinting at a break below the $120 multi-year support level. However, he emphasized his broader conviction in SOL’s long-term potential.

Pump.fun Reopens Livestreams with Enhanced Moderation

Solana memecoin platform Pump.fun has revived its live streaming feature five months after disabling it due to misuse. According to co-founder Alon Cohen, the feature has returned with stronger moderation tools and transparent guidelines. It is currently available to 5% of users as part of a limited rollout to test the new system. The platform aims to strike a balance between creativity and safety, preserving freedom of expression and encouraging meaningful engagement without illegal, harmful, or negative interactions.