Solana (SOL) Price: SOL Surpasses Ethereum in Transactions and Adds 1.5M Users — What’s Next?

TLDR

• SOL experienced a 10% increase over five days, reaching a three-week peak on Friday.
• Futures open interest saw a rise from $3.5 billion to $4.2 billion within a week.
• SOL has lagged behind the broader cryptocurrency market by 13% in 2026.
• Solana has onboarded 1.5 million new daily active users per month during the last quarter.
• Several Solana-based memecoins surged by over 40% between Wednesday and Friday.

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(SeaPRwire) –   Solana’s native token, SOL, climbed 10% over a five-day period, achieving a three-week high on Friday. This upward movement followed the announcement of an extended ceasefire between the US and Iran, which led to an 8% decrease in Brent crude oil prices and a boost in risk appetite across cryptocurrency markets.

SOL is currently trading in the range of $84–$85, with observers closely monitoring whether $100 will be the next price target.

The open interest for SOL futures increased from $3.5 billion on Sunday to $4.2 billion by Friday, marking a 20% rise in less than a week. This surge indicates growing involvement from leveraged traders, encompassing both institutional and retail participants.

Despite the recent price increase, the annualized funding rate for SOL perpetual futures remains at approximately 3%. This rate is below the neutral range of 5–10%, suggesting that bullish sentiment is not yet strongly established. However, it is still significantly higher than the extreme fear levels observed on April 7, when SOL fell below $80.

SOL has underperformed the broader crypto market by 13% in 2026. A contributing factor to this underperformance has been a slowdown in decentralized application (DApp) activity.

Solana network DApp revenues are currently around $16 million per week, a decrease from previous highs. For comparison, Ethereum DApps generated $10 million last week, and BNB Chain brought in $4 million, indicating that the decline in DApp revenue is a market-wide trend rather than an issue specific to Solana.

Memecoin Activity Picks Up

Several memecoins built on Solana experienced gains of 40% or more between Wednesday and Friday. Historically, memecoin activity has served as a positive indicator for SOL’s price, particularly following the memecoin rally in early 2025, during which Solana saw significant user engagement after the launch of the Official Trump memecoin.

Solana continues to maintain its leadership position in DEX trading volume and ranks second in Total Value Locked across all blockchain networks.

Last month, Solana processed nearly 9 billion transactions, in contrast to Ethereum’s 69 million. In total, Solana has now processed over 500 billion transactions compared to Ethereum’s 3 billion. Its architecture, designed for speed, low costs, and high throughput, makes it highly suitable for applications in gaming, trading, and financial services.

Solana has also established a stablecoin settlement partnership with Visa, positioning it within the developing blockchain payments sector.

User Growth Continues

Over the past quarter, Solana’s network has added an average of 1.5 million daily active users per month. This growth persisted even as SOL’s price declined from $293 to approximately $83 during the peak of Middle East tensions.

Prediction markets indicated a 100% probability for a target of $110 by April 16. The target of $150 by April 30 remains open, with an expected move of 15% priced in. Trading volume in these markets is currently low, suggesting that odds could change rapidly with any significant order.

As of Friday, SOL was trading around $85, with open interest at $4.2 billion and memecoin activity contributing to increased demand in futures.