Marketdash
Back to News

Solana Dominates Blockchain Activity While Cardano's 5% Rally Turns Heads

MarketDash Editorial Team
7 hours ago
Solana extends its leadership in real blockchain usage with 16 consecutive weeks atop DEX volume, while Cardano's 5% bounce offers temporary relief from a downtrend that still shows structural weakness across both major altcoins.

Solana (SOL) keeps racking up wins in the blockchain adoption game, but today it's Cardano (ADA) getting the attention with a 5% bounce that's temporarily distracting traders from charts that still look pretty rough for both tokens.

Solana Keeps Running the Show in Network Activity

Solana just notched its 16th consecutive week leading all blockchains in decentralized exchange volume, according to Cointelegraph. That's not a streak you stumble into by accident—it reflects genuine user activity and transaction flow that matter more than hype cycles.

The momentum got an extra boost when Forward Industries Inc. (FWDI) dropped a detailed shareholder update laying out its aggressive Solana-focused treasury strategy. The company now holds more than 6.9 million SOL, which it's calling the world's largest corporate Solana treasury. That's not pocket change.

Forward Industries started piling up SOL back in September, backed by a $1.65 billion private placement led by some serious players: Galaxy Digital, Jump Crypto, and Multicoin Capital. Chairman Kyle Samani explained the endgame is to "compound SOL-per-share" through validator operations, staking rewards, and direct on-chain participation.

The company also launched fwdSOL, a liquid staking token designed to juice yields and enable DeFi collateralization. Their validator operation is currently generating between 6.82% and 7.01% gross APY before fees, according to the update. That's the kind of real-world utility that separates actual blockchain usage from theoretical white papers.

Solana's Chart Still Can't Break Through Heavy Resistance

Here's the problem: SOL's 3% rebound hasn't actually changed the technical picture. Price keeps getting rejected at the $137–$141 resistance zone, an area reinforced by the 0.382 Fibonacci retracement level. Every attempt to punch through this cluster fails quickly, creating a frustrating pattern of short-lived rallies followed by aggressive selling.

The broader trend is still defined by a falling diagonal trendline stretching back to November's highs. Price briefly poked above that line recently, but the move had no volume behind it and collapsed within hours. The 0.5 Fibonacci level near $146 sits just above this trendline, adding another layer of supply that bulls need to overcome.

Bollinger Bands are showing tightening volatility, which usually means a bigger move is cooking. A hold above $133 keeps the possibility of a breakout attempt alive, but a drop below that level exposes $128 and potentially $122 if the range floor gives way completely.

Cardano's 5% Move Looks More Like Relief Than Recovery

Cardano outperformed the major altcoins today with a 5% climb toward $0.43 after successfully defending the $0.40 support level. The bounce halted the steep downtrend that stretched through October and November, which is nice, but the recovery remains structurally fragile.

Price is still trapped below key downward-sloping moving averages, with the 20-day EMA near $0.44 and the 50-day EMA around $0.51 acting as dynamic resistance. ADA has repeatedly failed to break through these zones, and the broader descending channel is still guiding price action lower.

There's a major resistance band between $0.47 and $0.54 that separates relief rallies from actual trend shifts. Without a weekly close above $0.51, the technical structure continues to favor sellers. If ADA loses $0.40, it opens the path toward $0.34 and potentially $0.28 if momentum turns sharply negative.

So yes, Cardano's 5% bounce is stealing headlines today. But it's worth remembering that relief isn't the same thing as recovery, and the charts for both Solana and Cardano are still showing plenty of technical work left to do before either can claim a sustained reversal.

Back to News

Solana Dominates Blockchain Activity While Cardano's 5% Rally Turns Heads

MarketDash Editorial Team
7 hours ago
Solana extends its leadership in real blockchain usage with 16 consecutive weeks atop DEX volume, while Cardano's 5% bounce offers temporary relief from a downtrend that still shows structural weakness across both major altcoins.

Solana (SOL) keeps racking up wins in the blockchain adoption game, but today it's Cardano (ADA) getting the attention with a 5% bounce that's temporarily distracting traders from charts that still look pretty rough for both tokens.

Solana Keeps Running the Show in Network Activity

Solana just notched its 16th consecutive week leading all blockchains in decentralized exchange volume, according to Cointelegraph. That's not a streak you stumble into by accident—it reflects genuine user activity and transaction flow that matter more than hype cycles.

The momentum got an extra boost when Forward Industries Inc. (FWDI) dropped a detailed shareholder update laying out its aggressive Solana-focused treasury strategy. The company now holds more than 6.9 million SOL, which it's calling the world's largest corporate Solana treasury. That's not pocket change.

Forward Industries started piling up SOL back in September, backed by a $1.65 billion private placement led by some serious players: Galaxy Digital, Jump Crypto, and Multicoin Capital. Chairman Kyle Samani explained the endgame is to "compound SOL-per-share" through validator operations, staking rewards, and direct on-chain participation.

The company also launched fwdSOL, a liquid staking token designed to juice yields and enable DeFi collateralization. Their validator operation is currently generating between 6.82% and 7.01% gross APY before fees, according to the update. That's the kind of real-world utility that separates actual blockchain usage from theoretical white papers.

Solana's Chart Still Can't Break Through Heavy Resistance

Here's the problem: SOL's 3% rebound hasn't actually changed the technical picture. Price keeps getting rejected at the $137–$141 resistance zone, an area reinforced by the 0.382 Fibonacci retracement level. Every attempt to punch through this cluster fails quickly, creating a frustrating pattern of short-lived rallies followed by aggressive selling.

The broader trend is still defined by a falling diagonal trendline stretching back to November's highs. Price briefly poked above that line recently, but the move had no volume behind it and collapsed within hours. The 0.5 Fibonacci level near $146 sits just above this trendline, adding another layer of supply that bulls need to overcome.

Bollinger Bands are showing tightening volatility, which usually means a bigger move is cooking. A hold above $133 keeps the possibility of a breakout attempt alive, but a drop below that level exposes $128 and potentially $122 if the range floor gives way completely.

Cardano's 5% Move Looks More Like Relief Than Recovery

Cardano outperformed the major altcoins today with a 5% climb toward $0.43 after successfully defending the $0.40 support level. The bounce halted the steep downtrend that stretched through October and November, which is nice, but the recovery remains structurally fragile.

Price is still trapped below key downward-sloping moving averages, with the 20-day EMA near $0.44 and the 50-day EMA around $0.51 acting as dynamic resistance. ADA has repeatedly failed to break through these zones, and the broader descending channel is still guiding price action lower.

There's a major resistance band between $0.47 and $0.54 that separates relief rallies from actual trend shifts. Without a weekly close above $0.51, the technical structure continues to favor sellers. If ADA loses $0.40, it opens the path toward $0.34 and potentially $0.28 if momentum turns sharply negative.

So yes, Cardano's 5% bounce is stealing headlines today. But it's worth remembering that relief isn't the same thing as recovery, and the charts for both Solana and Cardano are still showing plenty of technical work left to do before either can claim a sustained reversal.