Key Notes
- Solana price rebounds 5%, reclaiming its $100 billion market cap amid record DEX trading volumes.
- Solana-hosted DEXs transact over $8 billion in volume during the liquidation event, signaling the resilience of the ecosystem.
- SOL open interest climbs 6.9% to $10.2 billion, reflecting growing bullish reentry expectations.
Solana (SOL) price rebounded 3% on Sunday, October 8, hitting an intraday high of $190 and reclaiming its $100 billion market cap for the first time since early September. The rally follows a week of volatility triggered by US President Donald Trump’s renewed tariffs on China, which triggered record selloffs in global crypto markets.
Solana Price Rebounds Above $190 as DEX Activity Hits Record $8 Billion
Despite the widespread slowdown, Solana’s decentralized ecosystem has demonstrated exceptional strength. On Saturday, data from news aggregator Solana revealed that perpetual DEXs on the Solana network processed more than $8 billion in trading volume during the stock market crash.
In particular, four Solana-based exchanges surpassed $1 billion in 24-hour trading volume, led by Orca ($2.49 billion), Meteora ($1.7 billion), and Raydium ($1.5 billion).
📊Report: During last night’s massive liquidation, @Solana DEXs have processed over $8 billion in trading volume with @orca_so leading to $2.49 billion. Four Solana DEXs exceeded $1 billion in 24-hour volume. pic.twitter.com/BJlG9Epth7
– SolanaFloor (@SolanaFloor) October 11, 2025
While the broader crypto market experienced liquidity outflows, Solana’s DEX ecosystem retained and recycled capital, keeping the network’s value locked on-chain. Increased transactional intensity during periods of high volatility often increases validation fees and token burning activity, which may contribute to SOL’s price stability and faster rebound compared to competing Layer 1 assets on Sunday.
Solana Derivatives Market Analysis | Source: Coinglass
Derivatives trading also echoes optimism about Solana’s rebound prospects. Data from Coinglass shows that Solana’s open interest jumped 6.9% to $10.2 billion on Sunday, even as prices rose just 5% to $192. This divergence suggests that new long positions are being opened faster than spot demand, implying that leveraged traders are re-entering new positions after record forced liquidations on Friday.
Solana Price Prediction: Can SOL Maintain Momentum Above $200?
Solana technical indicators align with improving on-chain data and derivatives, suggesting that the bulls are gradually regaining control. As seen below, Solana price bounced off lower Bollinger band support at $181.6, confirming renewed buying interest following the market-wide sell-off.
Solana (SOL) Technical Price Analysis | Trading View
SOL price has since regained ground towards the Bollinger mid-level at $213.3, which now constitutes the next key resistance zone. A decisive break above this midline could open the door to the upper band at $244.9, aligning with the August high and serving as a key target for bulls this week.
Meanwhile, the Relative Strength Index (RSI) rose slightly from oversold levels near 41.1 to the neutral mark of 49.7, signaling a slowdown in bearish momentum. However, on the downside, a rejection of the $213 resistance could trigger a retest of the $181 support.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with experience supporting various Web3 startups and financial organizations. He completed his undergraduate degree in Economics and is currently studying for a Master’s degree in Blockchain and Distributed Ledger technologies at the University of Malta.
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