Solana outperformed the broader crypto market over the past 24 hours, climbing about 1.9% to trade near $129, while the CoinDesk 20 Index (CD20) edged up just 0.15%.
SOL rose from roughly $126.4 to an intraday high around $130 before trimming gains. The advance followed a breakout from a tight consolidation range on strong volume of about 2.34 million SOL, according to CoinDesk Research technical data.
The move extended a short-term rebound that began after Solana held key support near the $127 level.
On-chain activity across the Solana network has also surged in recent days, driven by speculation tied to Claude Code, an AI development toolkit created by Anthropic. Developers have increasingly launched tokens linked to viral AI repositories via Bags, a Solana-based token launchpad.
The trend has led to a sharp increase in network usage, with active addresses jumping from 4.7 million in early January to 18.9 million last week, while weekly transactions rose from 390 million to 530 million, according to DefiLlama.
While many of the newly launched tokens remain speculative, some have been adopted by original AI project teams, allowing trading fees to be redirected to developers. This has reinforced a feedback loop of new launches and elevated on-chain activity.
Despite the pickup in activity, Solana’s total value locked has slipped to around $8.4 billion. Technically, the $130 level remains a key pivot, with a sustained break higher potentially opening the way toward recent highs, while a pullback could expose support in the $126–$124 range.
