Solana's price surges to over $220, with on-chain clearing speeds surpassing centralized exchanges
Source: CoinWorld
Time: 2025-09-10 18:25:16
Solana’s price surged to $220, an eight-month high, triggering a short liquidation of more than $17 million and creating a feedback loop that further boosted prices. On-chain perpetual contracts dominate with a liquidation of $37.4 million, 80% higher than centralized exchanges. The rise is driven by DeFi growth in platforms such as Drift Protocol, which handle billions of dollars in transaction volume each month, and an increasing number of institutional investors, including a Nasdaq-listed company holding $95 million in Solana and $1.6 billion in Treasury bill allocation. Analysts expect Solana’s target price to reach $350, citing a structural shift in decentralized trading and an increase in on-chain liquidity.