Solana is showing strong signs of momentum, with both liquidity and trading activity rising sharply in recent weeks.
Stablecoin supply on the network has now crossed $15.5 billion, marking a new all-time high. At the same time, open interest has climbed from $4.9 billion to nearly $6 billion, signaling a wave of fresh capital entering the market.
This combination—high liquidity and rising leverage—is often a precursor to major price moves.
Stablecoins Point to Strong Buying Power
One of the biggest takeaways from the data is the surge in stablecoin activity.
Stablecoin transfer volume on Solana is up 300% year-over-year
Transaction fees remain extremely low, hovering around $0.00047
The network now accounts for roughly 36% of global stablecoin transaction volume
This matters because stablecoins sitting on-chain act as ready-to-deploy capital. In simple terms, there’s a lot of money already inside the ecosystem, waiting to move into assets like SOL.
Rising Leverage Adds Risk to the Mix
While liquidity is a positive sign, the derivatives market tells a more complex story.
Open interest has jumped 22% in a short period, indicating that traders are increasingly using leverage. That can amplify gains—but also losses.
High open interest often creates the conditions for sharp, sudden price swings. If the market moves quickly in either direction, it can trigger large-scale liquidations.
In fact, even a 5% move could potentially lead to hundreds of millions of dollars in positions being wiped out.
Key Levels for Solana’s Next Move
From a technical perspective, Solana’s price structure still looks healthy.
The asset is forming higher highs and higher lows, showing that buyers are stepping in consistently. But there’s a key zone to watch:
Resistance: $100–$110
Support: Around $88
If Solana breaks above $110 with strong volume, the next upside target could be around $125, fueled by the large amount of stablecoin liquidity waiting on the sidelines.
However, if the price gets rejected near this level, the high leverage in the system could trigger a long squeeze, pushing prices down quickly.
