Recently, several analysts in the encryption industry have indicated that if the current favourable information continues to develop, the price of Solana (SOL) is likely to challenge the important threshold of $240 in the next 4-6 weeks. This optimistic prediction is not unfounded, but is based on multiple positive signals from the development of the Solana network ecosystem, actions of institutional investors, and the overall market sentiment.

Data on the Solana chain shows significant signs of recovery. According to the latest statistics from Dune Analytics, since entering September, the number of daily active addresses on Solana has maintained a growth trend for three consecutive weeks, currently stabilizing between 3.8 million and 4.2 million, which is an increase of about 22% compared to last month. Even more notable is that the average daily transaction volume on the chain has surpassed 12 million, representing a nearly 80% increase compared to the trough in the second quarter, and is almost at the peak level seen during the bull market of 2021.

In terms of the ecosystem, Solana's decentralized finance (DeFi) sector has also shown strong recovery momentum. Over the past month, the total value locked (TVL) in DeFi has surged from $1.4 billion to $2.1 billion, an increase of 50%. Notably, the trading volumes of leading protocols like Marinade Finance and Raydium have significantly increased. At the same time, the non-fungible token (NFT) market has also shown signs of warming up, with weekly trading volumes of Solana-based NFTs on platforms like Blur and Magic Eden exceeding $80 million, doubling compared to the previous month. It is worth noting that the floor prices of blue-chip NFT projects like DeGods and Okay Bears have rebounded to the range of 0.8-1.2 SOL, reflecting the recovery of investor confidence and the influx of capital.

The movements of institutional investors are also worth paying attention to. Several well-known investment institutions have recently shown strong interest in the Solana ecosystem, which not only brings financial support to the network but also injects confidence into its long-term development. With Solana's continuous improvements in performance and stability, as well as its widespread application in the Web3 and decentralized application fields, more and more developers and users are being attracted to this rapidly growing ecosystem.

Nevertheless, investors should remain cautious. The high volatility of the cryptocurrency market means that price predictions are always uncertain. Changes in the regulatory environment, technological challenges, and the overall economic situation can all impact the development trajectory of Solana. Therefore, while focusing on optimistic expectations, it is also important to fully recognize potential risk factors.

Overall, the recovery trend of the Solana ecosystem is evident, with various indicators from on-chain activities to the DeFi and NFT markets showing positive signals. If this trend can continue, coupled with the push from institutional investments, Solana indeed has the potential to challenge new price highs in the near future. However, market participants should continue to closely monitor developments in all aspects and make rational investment decisions.