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Solana, a popular blockchain platform, has experienced a significant surge in trading volume on two decentralized exchanges, Raydium and Orca, over the past week. This surge has resulted in a 42% increase in Solana’s Total Value Locked (TVL). As a result, the price of Solana’s native token, SOL, has also seen notable gains, reaching a high of $67.69 on November 15.Data from DeFiLlama reveals that Solana’s trading volume on decentralized exchanges has increased by 54% in just one week, surpassing $3.01 billion. The trading volume on Orca and Raydium, the top two decentralized exchanges for SOL, has increased by 45.7% and 47.79% respectively, accounting for a total increase of 95.49% in just one week. Orca’s utility token has also experienced a surge of nearly 20% in response to this increased trading volume.In addition to the surge in trading volume, Solana has performed exceptionally well over the past 30 days, with SOL recording an impressive 125% price gain. This positive performance has caught the attention of prominent crypto investor and Ark Invest CEO, Cathie Wood, who expressed optimism about Solana’s potential for growth. Wood’s bullish sentiment further boosted SOL’s price, resulting in a 20% increase in just one day.However, despite the initial rally, SOL’s price has experienced some volatility, dipping to $55 on November 17 after reaching a high of $67.69. Currently, SOL’s price stands at $60.66, with a 24-hour price increase of 1.49%. Despite this minor fluctuation, SOL has managed to retain over 5% of its gains from the previous week.Looking at the price outlook, SOL has broken out from a bearish trendline and formed a new one. After trading between the $18 and $20 ranges for several weeks, SOL broke through a critical resistance at $23 in mid-October and has been on an upward trajectory since then. Although there have been attempts to suppress SOL’s price, the token remains significantly above two simple moving averages ($24.59 and $36.25). There is also a support level at the $58 price level that could prevent further decline.Overall, Solana’s recent surge in trading volume and price gains have positioned it as one of the top blockchain platforms. With positive sentiment from influential investors like Cathie Wood, Solana’s potential for growth remains promising.