preferred on
Points of Focus
- Solana trades at $117.64 as onchain activity strengthens.
- Stablecoin supply reached $17.395B, up 12.95% over seven days.
- Solana app revenue rose about 18% as DEX volume increased 16.6%.
Solana (SOL) traded at $117.64 on Friday as network liquidity and application revenue increased alongside the price.
Solana’s stablecoin market cap has climbed to $17.395 billion, up $1.995 billion, or 12.95% over seven days, while app revenue rose about 18%.
Decentralized exchange (DEX) volume also increased 16.64%, though perpetual futures volume moved lower over the same period.
Solana stablecoin supply reaches $17.4 billion
DefiLlama data shows Solana’s stablecoin market capitalization at $17.395 billion, nearly $2 billion higher than a week ago. USDC (USDC) accounts for 47.31% of the total, equivalent to roughly $8.23 billion based on the current network balance.
The latest reading is also well above the roughly $16.6 billion level seen earlier in September. The 12.95% weekly increase gives Solana a larger pool of dollar-denominated liquidity available for trading, payments, and decentralized finance (DeFi) activity. It doesn’t show where that capital will move to next, but the nearly $2-billion expansion provides a stronger liquidity signal than price action alone.
Solana app revenue rises as DEX volume rebounds
Solana applications generated about $5.9 million in revenue over the latest 24 hours, while weekly app revenue rose about 18%, according to DefiLlama figures. Pump and Axiom remained among the network’s largest revenue contributors.
Seven-day DEX volume reached about $19.9 billion, up 16.64% from the prior week. The increase in app revenue coincided with heavier onchain trading rather than appearing as an isolated revenue spike.
TraderSZ said in a Sept. 25 X post that SOL still needed to reclaim nearby resistance before a stronger expansion. SOL reached about $119.90 earlier this week before pulling back, keeping the $120 area as the nearest price level standing between the current rebound and another breakout attempt.
a little caution with this
if it does reclaim then we should blast off…will find out soon if this acts as resistance and ranges/pullsback
i'll personally be compounding if it does get above it$sol https://t.co/1vjVqp62j3 pic.twitter.com/Ljax001o29
— TraderSZ (@trader1sz) September 25, 2026
Solana perp volume falls despite onchain growth
Derivatives activity moved in the opposite direction. Solana perpetual volume fell 31.59% over seven days to about $8.01 billion even as DEX volume increased to $19.9 billion. The decline points to weaker derivatives turnover, though volume alone can’t determine whether traders are increasing or reducing leverage without supporting open-interest data.
SOL remains below the recent $119.90-$120 area, while Solana’s stablecoin market cap now stands at $17.395 billion after adding $1.995 billion over the past seven days.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency prices are highly volatile. Always conduct your own research before making investment decisions.
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