Solana Hits 400B Transactions Amid $4.7B Inflow
Key Takeaways
- Solana surpasses 400 billion transactions – a major milestone for the blockchain.
- Actual network activity remains high with over 1,000 genuine transactions per second.
- Capital inflows rise by USD 4.72 billion – the strongest increase since January.
- SOL price hovers around USD 147, with technical indicators showing mixed signals.
Solana Reaches New Transaction Record
Solana recently crossed the 400 billion transaction mark. At the time of reporting, the blockchain had recorded over 400,189,000,000 transactions – a clear sign of the network’s high usage.
The platform is known for its high speed. Currently, the total number of transactions per second (TPS) is around 4,262. The so-called “True TPS” – referring to actual user transactions excluding internal system processes like consensus votes – stands at 1,045. This figure is particularly relevant as it reflects genuine activity from users and decentralized applications (dApps).
Capital Inflows at Highest Level in Months
On April 28, the so-called “Hot Capital” value reached USD 9.46 billion. This term refers to capital moved within the last 24 hours to one week – an indicator of short-term trading activity and speculative interest.
Compared to the previous week, this marks an increase of USD 4.72 billion – the strongest weekly capital inflow since January 23. The data suggests increased rotation of newer coin holdings, indicating heightened market activity and risk appetite.
Technical Analysis: Price Remains Below Resistance
At the time of analysis, the price of Solana (SOL) was approximately USD 147 – a 0.70% increase over 24 hours. Despite this positive movement, technical indicators present a mixed picture.
The Relative Strength Index (RSI) stands at 59.5. Values above 70 are considered overbought. The current level suggests weakening buying momentum. At the same time, the On-Balance Volume (OBV) – a measure of trading volume in relation to price movement – has slightly declined. This may indicate reduced accumulation by investors.
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What Does This Mean for the SOL Price?
A sustained breakout above the USD 150 level remains uncertain. If buying volume does not increase, the price may fail to overcome this resistance. On the other hand, the area around USD 145 provides short-term support. As long as the price remains above this level and capital inflows continue, a renewed attempt at higher prices is possible.
Our Assessment
Solana continues to prove itself as one of the most capable blockchains on the market. The combination of a high true transaction rate and strong capital inflows points to solid network activity. In the short term, however, the price remains trapped in a narrow range. Whether a breakout above USD 150 can be achieved depends heavily on market conditions and continued investor activity.
For investors interested in blockchain technology and token performance, Solana remains a compelling asset to watch. Those already invested should monitor key technical levels and keep a close eye on trading volume.
Sources
- Glassnode
- TradingView
- X (formerly Twitter)
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