Solana Price Rises on Strong Fundamentals and Upgrade Narratives

Solana's price has risen by nearly 3% in the past 26 hours due to strong on-chain fundamentals and upgrade narratives, despite a cautious market.

The increase is largely driven by increasing usage and real-world asset (RWA) inflows, with total value locked near $5 billion and weekly active addresses above 18 million.

Traders are taking note of the 'classic setup' for mean reversion, where a token trades below prior highs but still sees strong growth in actual throughput, RWAs, and DeFi usage.

The Solana Governance Proposal (SGP) framework has also been rolled out, enabling validators to submit protocol-level proposals for stake-weighted on-chain votes, which is seen as a move towards more transparent governance.