Solana's (CRYPTO:SOL) sustained unique user count and high daily DEX trades indicate active chain participation, despite the cryptocurrency entering a consolidation phase that may set the stage for upcoming price surges.

The Total Value Locked (TVL) in Solana's DeFi ecosystem holding firm above $4 billion underscores a resurgence of investor confidence and growing interest, marking a significant turnaround from previous lows.

Historical data reveals Solana's TVL once soared above $10 billion, with the recent stabilization and increase in DeFi activity suggesting a foundational reset for future growth within the ecosystem.

Record-breaking DEX transaction volumes and a rising daily unique transaction signer count in early 2024 reflect a vibrant and engaging Solana network, despite a subsequent slight decline in user engagement.

As Solana navigates through its current consolidation phase, indicated by the nearing crossover of short-term and long-term EMAs, the potential for a significant price recovery remains, with the network's underlying strength hinting at a resilient path towards new highs.