Is the Solana Ecosystem Recovering? Fees and Activity in DEXes Continues to Grow

The Solana Ecosystem appears to be in the midst of a significant recovery, marked by a sharp increase in decentralized exchange (DEX) activity and a noticeable uptick in network fees. Over the past week, Solana (SOL) has posted impressive gains of 20%, supported by strong technical momentum and growing confidence in its decentralized finance (DeFi) applications.

Bullish Technical Momentum for Solana

Solana's price action is currently aligning with several bullish technical indicators. The Ichimoku Cloud chart displays a robust uptrend, with SOL trading well above the Tenkan-sen and Kijun-sen levels. This configuration suggests that both short- and medium-term buyers are in control. The Chikou Span, positioned above the price and cloud, further confirms this bullish sentiment.

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Adding to the technical case is Solana’s BBTrend indicator, which has jumped from 1.88 to 16.89 in just two days. Although it slightly cooled to 16.89 from 17.54, this remains a very strong reading. BBTrend readings above 10 are generally seen as an indicator of high volatility and powerful trend strength exactly the kind of momentum bulls want to see.

This trend strength is also reinforced by a golden cross formation on Solana’s exponential moving averages (EMA), where the short-term EMA crosses above the long-term one. Historically, such a pattern has signaled the beginning of sustained upward price movements.

DEX Volume Signals Growing Ecosystem Health

One of the clearest signs of a recovering Solana Ecosystem is its resurgence in DEX activity. Over the past 24 hours alone, Solana logged over $2.5 billion in DEX volume, a 14% increase over the previous week. This not only beats the 10% growth seen on Base but significantly outpaces the declines on Ethereum (-3%) and BNB (-9%).

Even more telling, Solana’s seven-day DEX volume has exceeded the combined total of Base, BNB, and Arbitrum, a strong signal that users and liquidity are returning to the network in droves.

Protocol Fees Suggest Real Usage

It’s not just trading activity that’s booming so are fees generated across DeFi apps built on Solana. Among the top eight protocols (excluding stablecoin-focused projects), five are native to the Solana Ecosystem: Jupiter, Jito, Pump, Meteora, and Axiom.

Of these, Pump has emerged as a standout performer. In just the past 24 hours, it generated a staggering $2.73 million in fees, contributing to over $15 million across the week. This trend illustrates not just speculative activity but real, sustained usage across multiple DeFi verticals.

Protocol fees are a key metric in evaluating the health of a blockchain ecosystem. High fees generally indicate strong demand for services and applications, suggesting that the Solana network is regaining its competitive edge in the broader DeFi landscape.

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Price Outlook: Where Is Solana Headed Next?

With momentum building, Solana’s price is now approaching key resistance levels. If SOL can break through the $136 zone, it could quickly rally toward $147, $160, or even $180 if bullish conditions continue. These targets align with historical resistance points and recent price action patterns.

However, traders should remain cautious. If momentum begins to fade, a correction toward the $124 support level could be in play. A break below that might trigger a more significant retracement, potentially bringing prices down to $112 or $95.

source : Solana

Final Thoughts

All signs point to a Solana Ecosystem that is not only recovering but thriving. With rising DEX volumes, surging fees, and bullish price indicators, the network seems poised for a strong second quarter. While risks remain—especially around macro sentiment and broader market trends—the fundamentals and on-chain data strongly favor continued growth.

Whether you're a long-term holder or a short-term trader, Solana is showing all the signs of a blockchain ready to reclaim its place among the top DeFi ecosystems.

FAQ

Why is the Solana Ecosystem seeing a surge in DEX activity?

The Solana Ecosystem is benefiting from faster transaction speeds and lower costs compared to competitors like Ethereum and BNB. This has led to a significant increase in DEX activity, with Solana surpassing $2.5 billion in daily volume. The rise in active users and DeFi protocols has also contributed to this growth.

What do rising protocol fees on Solana indicate?

Increasing protocol fees suggest that there is real and sustained demand for applications within the Solana Ecosystem. Projects like Pump, Jupiter, and Jito have generated millions in fees recently, which signals healthy on-chain activity and growing adoption of Solana-based DeFi platforms.

Is Solana’s price increase sustainable?

Solana’s recent price gains are supported by strong technical indicators, including a bullish Ichimoku Cloud setup, a rising BBTrend, and a golden cross on the EMA lines. If these conditions hold and network usage continues to rise, the uptrend could be sustainable. However, traders should watch for key resistance and support zones to gauge future momentum.