Solana Navigates Consolidation Amidst Thriving DeFi Ecosystem

Solana is currently experiencing a period of consolidation, with its price hovering between $164 and $185. Despite this technical pause, the Solana DeFi ecosystem continues to experience rapid growth. This raises questions: Can the momentum of this growing DeFi landscape be sustained long-term enough to drive SOL’s price beyond its current range? 28% growth in TVL since April shows investors are increasingly confident in the Solana DeFi space. Open interest on SOL futures stands at $7.35 billion, indicating strong bullish anticipation for future price movements.