• Solana outpaces Ethereum in DEX volume for the tenth consecutive month, with a 42% increase in July, signaling its rise in the DeFi space.
• The blockchain’s scalability and low transaction costs have attracted over 40% of founders in 2025, a sharp rise from 25% in 2024.
• Analysts forecast Solana’s price may reach $300 due to positive market trends, with the price target set at $215 for continued growth.

Solana has recorded an impressive milestone in the fields of decentralized finance (DeFi), beating Ethereum in decentralized exchange (DEX) in the tenth month in a row. As SolanaFloor on X noted, the total DEX volume on Solana was $124 billion in July. This represents a 42% positive growth compared to Ethereum in terms of dominance in the sector, hence indicating that Solana is on the rise.

The expansion of Solana has particularly been buoyed by the ingress of developers to its blockchain. The data provided by the Alliance DAO sOLindicate a high increase in the activity of founders in the first half of 2025, with more than 40% of these choosing SOL. This is a huge change as compared to the previous year, whereby only 25% of developers migrated to SOL.

Source: X

Solana’s Scalability Drives Developer Shift and Market Growth

The change in preference amongst developers could be explained by the scalability and efficiency of the blockchain. Its design will support the execution of high-speed transactions at a low cost, which makes it an attractive substitute for Ethereum. The performance capability of Solana to not be crowded out by large amounts of transactions makes it perfectly suitable to performance-oriented projects. 

Related: Solana Eyes $360 After Weekly Breakout Above $202 Resistance

Analyst Kamran Asghar foresees that SOL would keep going up in the future. SOL has gained its bearings and has matured out of a troubling period, taking its position in the market. According to Asghar, the price of SOL might soon reach $300, as there are positive market trends and a steady increase in trading volumes.

Source: X

Solana’s Price Stability and Bullish Outlook

On the price side, SOL is currently stable above the $205 zone following the strong breakout of the week. The support of the 20-day Simple Moving Average (SMA) is expected at the level of $191, which enhances the short-term stability. The positive mood is further evidenced by the MACD indicator that possesses green movement bars signifying the future is still likely to expand further upwards.

In the future prospects, the price of SOL is predicted to reach $215, which is one of the resistances observed in the month of March. In case SOL succeeds in overcoming this barrier, then the road to $228 and, in the future, to $240 would be open. 

Source: TradingView

The bullish trend may, however, be intact provided SOL stays towards the top side of the trend line, which is the $200 mark. A decline below this level would result in an opportunity to witness a pullback, and the support level is seen at $191.

SOL is gaining its way in DEX trading volumes and developer usage, proving the popularity of the platform in the blockchain market. Due to scaling problems on the Ethereum blockchain, the efficiency and low cost of transactions have made SOLa favorite among the users of DeFi. SOL has high market momentum to keep climbing even higher.

Related: Solana (SOL) Rally Strengthens as Technicals Point to $295 Target