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The meme coin winter, as some have called the latest bearish cycle that this category has gone through, has impacted the valuation of this smart contracts platform since 2025 started.
The aggregated market value of this entire segment has plummeted from $137 billion back in December to $49 billion at the time of writing as the Federal Reserve has been reluctant to lower interest rates amid fears that Trump’s hostile trade policies could result in higher inflation.
However, SOL is still outperforming ETH as DeFi apps within its ecosystem seem to be making more money.
According to data from DeFi Llama, Ethereum dApps made $58.8 million in February compared to $268.2 million that Solana’s DeFi apps like Jupiter, Jito, and Raydium brought home during this period.
As its ecosystem keeps thriving, SOL’s bounce off its weekly support could be a sign that the token’s latest downtrend has hit a bottom.
Double-Bottom Pattern Confirmed by Momentum Indicators
Moving to the daily chart, Solana (SOL) has been recovering in the past few days after it came near the $110 level at some point last week. Momentum indicators have been improving and the Relative Strength Index (RSI) has already sent a buy signal.
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