Solana Surges: DeFi Breaks Records and SOL Targets $300

With its Total Value Locked (TVL) soaring to an all-time high of 13.38 billion, Solana's DeFi ecosystem has achieved a historic milestone, reflecting 184.63 billion in September 2024. Significant contributions from top staking sites like Jito, Kamino, and Sanctum, as well as decentralized exchanges like Jupiter, which rules with 3.3 billion in TVL. This amazing growth matches a 253.3 billion in TVL. This phenomenal growth aligns with a 251.8 billion, and a 37% rise in daily active addresses. With its total worth now comparable to Ethereum's layer-2 systems, Solana further establishes its position as a top blockchain technology.

Market Movements: Navigating the Price Trends of SOL

The SOL/USD was one of the best performers the previous week on positive developments.  Near-term support is identified at $225, with a drop below this level potentially leading to targets of $200/$180/$140/$123/$117/$100. Immediate resistance is noted at around $250, where a breach could push prices up to $265, or even $300. It is good to buy on dips around $180, with a stop-loss set at $140 and a target price of $300.