Solana's on-chain activity is fully leading; can SOL hold the crucial $80 level and rebound?

February 12 News, Solana (SOL) has once again become a focal point in the crypto market. According to the latest data from Artemis, Solana continues to lead mainstream blockchains in key metrics such as active users, number of transactions, fee revenue, developer growth, and on-chain transaction volume, while maintaining stable operation for over 24 months. This combination of high performance and reliability has led Artemis’s Zheng Jie Lim to describe it as an “Internet capital market,” succinctly capturing its scale and efficiency advantages.

Beyond on-chain performance, Solana has also achieved significant progress at the infrastructure level. Alibaba recently showcased a high-performance Solana RPC and completed integration with Alibaba Cloud, aiming to significantly reduce network latency. Supported by ZAN technology, Solana is expected to offer millisecond-level speed advantages for high-frequency on-chain transactions, which is of great importance for institutional applications and complex financial scenarios, further solidifying its market position as a “performance-first blockchain.”

From a price structure perspective, SOL is testing a key support zone around $80 on the weekly chart. This level has historically acted as a demand defense line multiple times. If it holds, it could lay the foundation for a new rebound; if it breaks, the medium-term trend may turn weaker. Technical indicators show that the stochastic RSI has rebounded from oversold territory, suggesting short-term recovery potential.

Institutional capital movements are also worth noting. Over the past 24 hours, SOL’s open interest has risen to approximately $2.1 billion, indicating a significant increase in derivatives market participation. While expanding positions do not directly indicate a direction, they reflect market preparation for potential volatility.

Against the backdrop of rising activity, infrastructure development, and increased capital attention, SOL stands at a critical turning point. If the $80 zone remains stable, Solana’s long-term fundamentals will support the price; if it falls below, the network will need time to digest structural pressures. Currently, Solana is at the core of a battle between technical signals and fundamental factors.