Solana (SOL) is back in the green this week – and traders are excited.
One top analyst is even betting that SOL will soar to $250 by May, which would represent an 80% jump from here.
And with whales investing in Solana and the new Solaxy (SOLX) project, momentum is building for what could be one of the year’s biggest rallies.
Solana Price Hits $138 as Analyst Forecasts Further Gains
At the time of writing, Solana is sitting around $138 – up nearly 40% from this month’s low and climbing 3% in the last 24 hours.
Spot volumes have surged to $2.8 billion, and you can feel the buzz from traders who had written SOL off after it dipped to $100 in early April.
The rejection at $100 actually helped turn sentiment around, drawing in retail traders looking for exposure.
Enter crypto analyst @ChristiaanDeFi, who has over 240,000 X (Twitter) followers.
He shared a chart on Friday showing SOL breaking out of a descending wedge on the daily timeframe – a bullish setup.
If history is any guide, the height of that wedge aligns with the $250 level, which is exactly where he’s put his target.
That’s nearly double from here, but SOL is well known for its aggressive price action.
Plus, the Crypto Fear & Greed Index has ticked up to 39, so sentiment is beginning to shift out of panic mode – perfect fuel for a Solana rally.
Whale Buys and Ecosystem Upgrades Boost Solana’s 2025 Outlook
The rest of 2025 looks bright for Solana.
There’s huge whale interest: just 11 days ago, Lookonchain flagged a single address scooping up another 32,000 SOL (about $3.7 million) after a six-month pause.
That’s the same whale who three years ago bought in at $216 and held through the sub-$10 dip.
Meanwhile, the Solana network itself continues to perform well.
Total value locked (TVL) in DeFi protocols has grown to $7.3 billion – a 13% increase in just one week – indicating that fresh capital is flowing into Solana’s ecosystem.
On the institutional front, Canada’s first spot SOL ETF has just launched, with U.S. approvals reportedly in the pipeline.
Upcoming upgrades like Firedancer, along with payment tie-ins to Visa and Shopify, also provide real-world utility, driving demand for SOL.
And with Bitcoin trending back toward the $90,000 mark, Solana could be preparing for its next rally.
That means @ChristiaanDeFi’s prediction might not be so far-fetched.
Solaxy Presale Gains Traction as Whales Invest In New Solana Layer-2 Solution
But crypto whales aren’t just interested in Solana.
Etherscan data shows that 24 hours ago, a single address purchased 11.1 million Solaxy (SOLX) tokens – an investment of $18,800 based on the current presale price.
That kind of move tells you there’s serious interest in this Layer-2 scaling solution built on Solana.
Solaxy takes the heavy lifting from Solana’s mainnet, bundles some transactions off-chain, and then settles them in batches.
That means users get near-instant speeds and low fees without compromising security.
On top of that, Solaxy’s multi-chain bridge taps into Ethereum’s liquidity.
Thanks to this bridge, developers and traders get the best of both worlds: Solana’s throughput plus Ethereum’s network effects.
SOLX is the token that powers all of this, used to pay fees, vote on governance proposals, and stake for yield.
As Solana continues to push higher toward analyst targets, Solaxy stands to benefit.
More activity on Solana means increased demand for a smoother Layer-2, and with over $30 million already raised, Solaxy could capitalize on this trend.
YouTuber ClayBro thinks so – predicting SOLX could 10x after launch.
And he’s not alone in his optimism; the experts over at 99Bitcoins have also praised Solaxy and its setup.
Although it’s still in presale, this new Layer-2 project could be the dark horse that outperforms expectations.
