Solana's SOL token rose 1.9% to $127.56, outperforming the broader crypto market, which saw a modest 0.15% increase in the CoinDesk 20 Index. SOL's price fluctuated between $126.4 and $130, driven by a breakout from a consolidation pattern on strong volume of 2.34 million SOL. This rally is part of a short-term recovery after defending key support near $127.
The surge in Solana's activity is linked to Claude Code, an AI toolkit by Anthropic, which has spurred a wave of token launches on the Solana-based Bags platform. This has led to a significant increase in network activity, with active addresses rising from 4.7 million to 18.9 million and weekly transactions climbing from 390 million to 530 million. Despite the speculative nature of many tokens, some have been claimed by original AI project teams, redirecting trading fees to developers and boosting on-chain activity. However, the total value locked on Solana has decreased to $8.4 billion.
Solana Surges Amid Claude Code-Linked Token Activity
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
