Solana (SOL) Gains 6% Weekly Amid DeFi Slowdown and Institutional Accumulation

Solana (SOL) has gained approximately 6% over the past seven days, despite a noticeable drop in on-chain activity and decentralized exchange (DEX) volume throughout June.

The token is currently trading around $150.69, up from approximately $141.55 just a week ago, showing signs of resilience in the face of mixed sentiment across the broader crypto market.

📈 Weekly Price Movement

$SOL began the week trading at $141.55 and steadily climbed to hit a mid-week high near $155.67 before settling around the $150 mark. The bulk of this growth occurred between June 28 and July 2, when SOL surged over 10% in a brief rally.

However, the past two days saw modest corrections, trimming some of those gains.

Daily Summary:

June 28: +6.1%

June 29: +1.7%

June 30: +1.0%

July 1: –5.1% correction

July 2: +3.7% rebound

July 3: Flat movement

July 4: –1.0% (at time of writing)

This pattern reflects a healthy market cycle of accumulation, profit-taking, and sideways consolidation, with support holding around the $145–150 range.

🔗 On-Chain Activity Weakens in June

Despite the favorable price action, Solana’s on-chain metrics tell a more cautious story. According to data from DeFiLlama and Dune Analytics, the network saw a ~35% decline in DEX volume and a 38–48% drop in protocol revenue during June. This signals a temporary slowdown in DeFi activity across the Solana ecosystem.

However, daily active addresses still hover around 3.49 million, indicating the network continues to attract users even as transactional and financial throughput softens.

🏦 Institutional Interest Remains Strong

One of the most bullish signals this week came from institutional behavior. Digital asset fund DFDV acquired approximately 17,800 SOL, valued at over $2.7 million, suggesting that large players remain confident in Solana’s long-term fundamentals. This kind of accumulation can provide a floor for price corrections and fuel future rallies.

⚖️ Market Outlook and Key Levels

Resistance zone: $155–160

Support zone: $145–150

Trend: Short-term bullish, but consolidating

Momentum: Weakening slightly after mid-week rally

Looking ahead, SOL needs to reclaim the $155–160 zone to signal a breakout. Failing that, it may range between $145 and $155 until a new catalyst—such as a DeFi recovery or institutional staking event—triggers movement.

📌 Conclusion

Solana continues to perform well in price terms, even after this. Solana (SOL) gained 6% this week, outperforming the broader market sluggishness. However the divergence between price strength and on-chain activity points to a market in balance. Watch for renewed DeFi participation or major ecosystem developments as potential triggers for SOL’s next leg up—or down.