Increased Solana transactions and TVL growth alongside market sentiment drive SOL token's outperformance, topping BTC and ETH with a 18% weekly gain to $180, a new high.
The network's DEX activity rise, daily active users surge, and growing network fee accrual contribute to Solana's momentum, per blockchain researcher Pat Doyle.
Solana's TVL surges over 25% in a month to $5.28 billion, with a daily trading volume exceeding $2 billion, supported by fast settlement speeds and low fees.
Solana's appeal lies in its fast settlement speeds and low fees, attracting traders for meme coin trading frenzies, unlike Ethereum with higher fees at $3 million.
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