Solana’s HOT Realized Cap reached $9.5 billion, outperforming Ethereum’s $4.1 billion, highlighting robust demand. However, despite this demand, Solana’s realized cap growth only reached 2.19%, much lower compared to Bitcoin’s 10.87% and Ethereum’s 5.43% growth rates.
SOL is currently valued at $185, facing a potential downturn to $155 if it fails to hold above the $175 support level. A successful rebound to $200 could trigger a further increase towards $221. However, bearish sentiments might delay Solana’s recovery efforts.