AI token frenzy is reviving activity on Solana

Speculation surrounding tokens linked to Claude Code, the AI toolkit created by Anthropic, has sparked a frenzy on the Solana network that is reflected in both transaction volume and attracting new participants. In recent days, the launchpad Wallets has seen explosive growth in AI projects, fueling a virtuous cycle of innovation and engagement that puts Solana in the spotlight among the most active blockchains today.

The numbers speak for themselves: the number of active addresses on the network jumped from 4.7 million in the first week of January to 18.9 million last week, while the weekly transaction volume grew from 390 million to 530 million. This frenzy represents a significant transformation in the dynamics of the network, driven not only by speculators but also by developers who are able to capture value through redirected trading fees.

A speculative wave fueled by enthusiasm around AI tools

The catalyst behind this move is the proliferation of tokens related to viral AI repositories. While many of these projects remain in speculative territory, some have been officially claimed by the creators of the original AI projects, conferring legitimacy and practical utility to the coins. This dynamic has created an environment where innovation and speculation coexist, attracting both investors and builders to the Solana ecosystem.

It is worth noting that this frenzy of activity comes despite the broader trend in the market: the total value locked on the network has fallen to approximately $8.4 billion, suggesting that the growth in active addresses primarily reflects short-term speculative movements rather than enduring institutional capital.

SOL at technical critical point after robust breakout

On the price front, Solana has shown traces of strength at press time, trading near $129 and outperforming the broader crypto market in the previous days. The token had broken through a consolidation zone with significant volume, racking up gains that led it to test the $130 mark.

However, more recent data shows a change in the scenario: SOL is trading at $117.00, reflecting a 6.89% drop in the last 24 hours. The intraday peak reached $125.85, while the lows touched $115.42. With a trading volume of $102.64 million in the last 24 hours, the token is once again in the consolidation zone, testing critical supports.

The technical inflection now forms around $126–$124, a zone that offers important support. If held, this range could serve as a springboard for a return to recent highs. Conversely, a breakout of this support could expose SOL to further declines, reminding participants that moves driven by speculative frenzy often lack durable fundamentals.

When the frenzy faces the realities of the market

Solana’s story in recent weeks illustrates the classic dynamics of crypto cycles: speculative activity triggers price movement, which in turn attracts more participants, creating a self-sustaining frenzy—until such time as it is no longer. The comparison to Pudgy Penguins offers an interesting counterpoint: while this NFT project has managed to transition from a “digital luxury good” to a multi-vertical IP platform with 500,000 game downloads in two weeks, sustainability depends on actual execution.

For Solana, the similar challenge lies in converting the current frenzy into solid fundamentals. Active addresses may multiply, but the locked value remains depressed, suggesting that many participants are spectators rather than builders. The next phase will determine whether this move is the beginning of deeper adoption or simply another chapter in the book of crypto speculative cycles.