SOL, LINK, and ONDO Lead Crypto Trends with Ecosystem Growth and Gains

NAIROBI (CoinChapter.com)— Solana (SOL), Chainlink (LINK), and Ondo Finance (ONDO) are making waves in the cryptocurrency market, each riding unique trends that reflect broader developments in the digital asset space. These tokens have captured attention for their recent price movements, ecosystem growth, and emerging use cases.

Solana (SOL) Surges Amid Market Optimism

Solana (SOL) has experienced a remarkable rally, rising 7.16% in the past 24 hours and posting gains of 22.2% over the week. On a monthly scale, the asset is up 30.7%, showcasing robust momentum. Since the beginning of 2024, SOL has surged 211%, positioning it as a standout performer.

Solana (SOL) rises 7.16%, trading at $264. Source: CoinMarketCap

The broader market uptrend aligns with U.S. President Donald Trump’s recent executive order to build a digital asset stockpile.

SOL/USD 1-day price chart. Source: TradingView

SOL trades within an ascending wedge, with its price testing the upper boundary near $265. Immediate support lies near the $215 region, where the 50-day exponential moving average (EMA) converges with prior resistance-turned-support. A breakout above $265 could push the asset toward the 1.618 Fibonacci extension at $323.94, signaling a potential upside of approximately 22%.

Solana Total Value Locked (TVL): Source: DefiLlama

Solana’s ecosystem has also demonstrated strength. The network recorded 5.053 billion transactions in the last three months, dwarfing Ethereum’s 1.138 billion. Moreover, Solana’s total value locked (TVL) grew 600% over the past year, reaching $9.77 billion, driven by high transaction volumes and the popularity of tokens like TRUMP. The network’s scaling capabilities and increasing activity suggest room for further growth, even as it lags behind Ethereum’s $64.47 billion TVL.

CoinCodex predicts SOL could hit $300 by the end of Jan. 2025, representing a potential rally of nearly 14% from its current trading level of $261.33.

Chainlink (LINK) Eyes New Highs

Chainlink (LINK) has regained bullish momentum, trading at $25.97 after an 8% daily increase. Over the past year, LINK has risen 74%, supported by strong adoption of its blockchain oracle services and strategic partnerships with major financial institutions like JPMorgan and BNY Mellon.

LINK/USD 1-day price chart. Source: CoinMarketCap

Recent price action indicates LINK is targeting $31 by month-end, according to market projection platform CoinCodex. The asset has already formed a bullish flag pattern, with analysts forecasting a maximum price of $39 in Jan. 2025. Breaking this level could propel LINK toward its all-time high of $52 by April.

LINK/USD 1-day price chart. Source: TradingView

The chart shows LINK breaking out of a descending channel, with the price testing resistance near $26.50. The breakout above this channel signals potential upward movement. If LINK sustains above this level, it could target $31, as projected by CoinCodex. Beyond that, a push toward $39 is possible if buyers maintain control, representing a 53% upside from current levels. The RSI at 61.61 suggests bullish momentum remains intact but could approach overbought conditions with further gains.

80% of LINK holders remain in profit. Source: IntoTheBlock

On-chain metrics reflect solid support for LINK. Approximately 80% of holders are in profit, and whale accumulation has intensified, with 1.35 million LINK recently purchased by large investors. Additionally, Ripple’s integration of Chainlink’s price feeds for its RLUSD stablecoin underscores LINK’s expanding role in decentralized finance (DeFi).

Ondo Finance (ONDO) Targets $4.20

Ondo Finance (ONDO) is trading at $1.42, up 13.16% in the last 24 hours. The token has broken out of a descending triangle, signaling bullish momentum. Immediate resistance lies at $2.04, and a breakout could propel ONDO toward $4.20, marking a 230% gain. Support at $1.10, reinforced by the 200-day EMA, provides a key safety zone for buyers.

ONDO/USD 1-day price chart. Source: TradingView

The chart reflects a bullish pattern, with the breakout supported by rising volumes. The Relative Strength Index (RSI) stands at 53.39, leaving room for further growth before overbought conditions emerge. Analysts point to the upcoming Governance Module (GM) launch as a catalyst for ONDO’s momentum.

Ondo focuses on tokenized real-world assets. Source: Stacy Muur

Since Oct. 2024, Ondo has led the RWA space, surpassing competitors like USUAL and MANTRA. It was also voted the “Best RWA Project of 2024,” reflecting its leadership in tokenization and innovation.

Recent investments, including $250K from Trump-backed World Liberty and $30 million from TRON founder Justin Sun, further underline institutional interest.

Clearing $2.04 remains crucial for the next rally phase, while the GM launch and anticipated partnerships could strengthen ONDO’s case for sustained growth.

Conclusion

Above all, SOL, LINK, and ONDO exemplify the diverse trends shaping the cryptocurrency market. Solana’s scaling achievements, Chainlink’s expanding DeFi role, and Ondo Finance’s RWA initiatives highlight the evolving narratives driving adoption.

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