Following the U.S. elections, optimism in the cryptocurrency market began to wane. In the days of low volatility, Bitcoin 
$98,342 faced selling pressure around the $79,000 mark, interpreted as a signal of a pullback after a rally. However, there are indications that Solana 
$255 may break out due to a positive trend supported by an increase in total value locked (TVL).
Market Recovery Following Trump’s Victory
After Donald Trump’s victory in the presidential elections, the market entered a new recovery phase. Bitcoin reached a level of $77,200, while most major altcoins experienced similar gains. Solana’s price rose from $158 to $200, marking an increase of 28.8%. Crypto analyst Pentoshi described this price movement as a significant indicator, highlighting the potential for a breakout in the coming week.
Increasing TVL and Solana’s Rise Potential
According to DefiLlama data, Solana’s total value locked (TVL) reached $7.15 billion, up from $5.94 billion, reflecting a 20% increase. This growth indicates a significant influx of capital into Solana-based decentralized finance (DeFi) protocols and signifies an increase in network usage.
This increase in TVL is believed to have the potential to trigger a long-term upward trend.
However, if Solana continues to face selling pressure at the $210 level, a horizontal price movement may occur due to sellers’ counteractions. Price movements are being closely monitored in the context of both technical indicators and developments within the DeFi ecosystem. Caution is advised for market participants amid ongoing fluctuations.
