The next target for SOL could be $300: Three factors that could drive a significant increase in Sola

Solana(SOL)正吸引越来越多的关注，市场预测其下一站可能冲向 300 美元。推动这一轮潜在大幅上涨的主要因素包括链上总锁仓价值(TVL)和去中心化交易所(DEX)活动的增长、机构投资者的强劲需求，以及投资者对现货 ETF 批准的乐观预期。

关键要点：

● 根据 CoinShares 的数据，Solana ETF 和 ETP 每周流入资金达 7.06 亿美元，超过 XRP 的 2.19 亿美元。

● SOL 融资利率保持在 6% 的中性水平以下，表明交易员对杠杆看涨头寸的兴趣减弱。

Solana 的原生代币 SOL，周二一度跌至218美元，后回升至229美元。此举正值投资者对美联储公布9月17日会议纪要做出积极回应之际，会议纪要重申了对2025年进一步降息的预期。

交易员们仍然乐观地认为 SOL 可以上涨至 300 美元大关，鉴于衍生品指标和链上数据反映出的强劲看涨情绪，这一目标似乎是现实的。

区块链按 7 天费用排名。来源： Nansen

Solana’s network fees have increased by 22% over the past seven days, thanks to the growing activity of decentralized exchange (DEX) platforms. In contrast, Ethereum, Solana’s main competitor in terms of deposits, saw a decline in network revenue of 21% during the same period. Solana continues to dominate in terms of transaction volume, surpassing Ethereum and its Layer-2 ecosystem combined.

Solana DEX (left) and perpetual contracts (right) – weekly transaction volumes in US dollars. Source: DefiLlama

Over the past seven days, DEX transaction volumes on Solana have increased by 78%, followed by Meteora with a 73% increase, and Raydium with a 46% increase. According to DefiLlama, Solana has regained its leading position among DEX platforms, with 129 billion US dollars in 30-day transaction volumes, surpassing Ethereum’s 114 billion US dollars. It’s worth noting that Hyperliquid, one of Solana’s fastest-growing competitors, has seen its transaction volumes stagnate at around 31 billion US dollars.

Increased network activity on Solana

For any blockchain focused on decentralized applications, network fees remain a crucial factor, especially when those fees help to offset inflationary pressures. Unless the system is centralized, maintaining validators requires costs, while staker participants expect to receive reasonable returns. In short, low network activity can reduce the incentive to hold native tokens, potentially leading to selling pressure.

The total locked value of Solana has increased by 8% over the past 30 days, which has contributed to further growth in network fees. Among these increases, Kamino’s deposits rose by 20%, Drift’s deposits by 12%, and Orca’s deposits by 12%. In contrast, Ethereum’s TVL increased by 3% during the same period, while Tron’s TVL increased by 6%. Thus, Solana has solidified its position as the second-largest network, with a TVL of $14.2 billion, accounting for 8% of the market share.

The trading volume on the Aster platform has surged, causing traders to turn their attention to the BNB chain. Previously, there was a wave of memecoin prices that increased by 150% or more in just seven days. Therefore, although the price of SOL increased by 3% during this period, BNB’s remarkable increase of 28% overshadowed the sentiment of investors in the Solana ecosystem.

The BNB Chain token has performed exceptionally well over the past 7 days. Source: Cryptorank.io

The continuous inflow of funds into SOL ETPs indicates increasing institutional demand.

The data on SOL futures shows whether traders lost confidence after attempting to break through $250 on September 18th. Many SOL holders may be frustrated, especially given that some competing tokens have recently reached record highs, including BNB and Mantle, which reached $1,357 on Tuesday.

The financing rate for SOL futures, expressed as an annual percentage. Source: laevitas.ch

The financing rate for SOL perpetual contracts has consistently been below the neutral threshold of 6%, indicating a weak demand for bullish leveraged positions. This cautious attitude among traders may be due in part to the increasing attractiveness of competing blockchain platforms. Although the weekly inflows into Solana exchange-traded products have reached record levels, these competing blockchains have already attracted attention to Solana.

According to CoinShares’ reports, within seven days as of September 5th, Solana ETFs and ETPs attracted $706 million in capital inflows, far exceeding the $219 million received by XRP-related instruments. Investors currently expect that the U.S. Securities and Exchange Commission will approve several Solana spot ETFs on Friday. This development could further attract institutional funds, potentially driving up the price of SOL to over $300 per unit.