Solana (SOL) Price Surges 36% as Cryptocurrency Market Shows Signs of Revival

 After a volatile March 2025, the cryptocurrency market is showing signs of revival, and Solana (SOL) is emerging as a strong performer.

March 2025 has been a volatile month for the cryptocurrency market, but it seems like things are finally starting to look up. Major cryptocurrency Bitcoin struggled to maintain the $40,000 level, while Ethereum faced difficulties in breaking above the $2,000 barrier amid technical challenges and global economic pressures.

However, the broader market decline also brought opportunities for recovery, and one cryptocurrency that is emerging as a strong performer is Solana (SOL).

The blockchain’s native cryptocurrency has surged by an impressive 36% since hitting its recent bottom. In the past 24 hours alone, SOL has recovered another 5.85% to reach $132.

But what’s driving this upward momentum, and is the rally sustainable?

Solana Price Surges As Trump Announces 90-Day Delay On New Customs Duties

March 2025 was a turbulent month for the crypto market, largely driven by U.S. President Donald Trump’s trade policies. After months of escalating trade tensions with China and other nations, President Trump announced on April 2 that he would be imposing hefty tariffs on goods from China and several other countries.

This move sparked fears of a full-blown trade war, which initially pressured digital assets. However, in a surprising turn of events, President Trump announced a 90-day delay on new customs duties for most countries, excluding China, on April 9.

This decision was made to allow more time for negotiations and to assess the impact of the tariffs. The move provided a much-needed boost to market sentiment, setting the stage for a recovery in the cryptocurrency space.

Among the major cryptocurrencies, Solana (SOL) has benefited significantly from the market-wide rebound. The cryptocurrency, which is known for its high speed and low transaction fees, has been gaining popularity among investors.

As the broader market begins to recover from the recent downturn, several factors are converging to propel Solana’s blockchain toward even greater heights.

Solana Ecosystem Surging With Rising TVL And DEX Volume

One key factor driving Solana’s growth is the burgeoning ecosystem that has formed around its blockchain. The Total Value Locked (TVL) on the Solana network has surged to $6.9 billion, placing it ahead of Tron and Base in the ranking of blockchains with the largest TVL.

This indicates that institutional and individual investors are increasingly choosing Solana for deploying their cryptocurrency assets.

Some leading protocols on the Solana network, such as Jupiter, Jito, and Sanctum, have seen impressive 20% to 30% increases in commercial deposits over the past week alone. This influx of capital is providing further momentum for Solana’s blockchain growth.

Moreover, Solana’s Decentralized Exchange (DEX) volume has also witnessed a remarkable surge. In the past week alone, DEX volume on Solana increased by 16%, reaching $15.8 billion.

This places Solana’s DEX volume at over 50% of the combined total for all of Ethereum’s Layer-2 solutions, highlighting the growing investor interest in Solana’s decentralized finance offerings.

Platforms like Pump.fun, a decentralized derivatives exchange on Solana, saw a 44% rise in volume, showcasing the activity of short-term traders shifting toward Solana’s DEX ecosystem.

Solana ETF Could Arrive In 2025 As Grayscale Pushes For Approval

Another factor that could propel Solana’s growth is the potential approval of a Solana spot ETF in the U.S. in 2025. This speculation has gained traction following Grayscale’s recent SEC filing for an ETF focused on the Solana trust.

James Seyffart, an ETF analyst at Bloomberg, suggests that the approval of Grayscale’s Solana ETF could be a pivotal moment, indicating a broader shift in the SEC’s regulatory stance.

Prior to this filing, several firms, including VanEck, Bitwise, and 21Shares, had already submitted applications for Bitcoin and Ethereum ETFs, which are now pending approval from the SEC.

However, Grayscale’s move to apply for an ETF tied to a cryptocurrency other than Bitcoin or Ethereum could be crucial in determining the SEC’s broader strategy for approving crypto products.

According to Seyffart, applying for an ETF on a cryptocurrency like Solana might be a less risky endeavor for the SEC compared to applying for an ETF on a broader crypto index.

This is because the SEC has faced difficulties in approving such products due to concerns over market manipulation and the lack of a reliable framework for overseeing cryptocurrencies.

Furthermore, Pantera Capital has identified Solana as one of the top contenders for ETF approval due to its strong market presence and increasing institutional interest.

Nate Geraci, President of ETF Store, also believes that Solana ETFs could receive approval by the end of 2025, which would catalyze institutional adoption and likely push SOL’s price even