Key takeaways
Solana’s DEX volume surpassed $1 trillion in 2025, with 234% futures growth and rising whale accumulation. Strong momentum and improving sentiment suggest a potential rally toward the $200 price milestone.
Earlier this year, Solana [SOL] was labeled a fading asset. But now, the numbers tell a different story.
So far in 2025, DEX volume on the Solana network has exceeded $1 trillion, surpassing the total trading volume it recorded during all of 2024.
That growth, while largely under the radar, signals a significant resurgence in real network usage.
At the same time, trading in Solana-based perpetual futures has jumped 234%, showing that experienced traders are re-engaging with the ecosystem, this time with leverage and conviction, rather than passive interest
Source: DefiLlama
Whales are making moves
Solana’s recent volume spike hasn’t gone unnoticed by major players.
According to AMBCrypto’s analysis of CryptoQuant’s order book data, large whale orders are rising sharply at current price levels, signaling accumulation rather than exit.
Historically, such deliberate accumulation by whales and institutions often precedes strong price moves and challenges the idea that Solana is still unstable.
In fact, the current positioning suggests that many investors view this moment as a buying opportunity, not a risk.
If momentum continues, this accumulation could soon be reflected in SOL’s price action.
Source: CryptoQuant
Can the momentum push Solana to $200?
Traders and investors are asking whether Solana’s current bullish rally can push its price past the $200 milestone.
With surging network volume, improving sentiment, and steady whale accumulation, Solana is showing the kind of momentum that could support a deeper rally.
However, reaching $200 will require more than hype; it needs sustained volume, favorable macro conditions, and broad investor conviction.
Based on current signals, though, a move toward $200 is well within reach.
