Solana outpaces crypto market as Claude Code-linked token frenzy lifts network activity

Solana (SOL) gained 1.9% over the last 24 hours, trading near $129 as it outperformed the broader crypto market, with the CoinDesk 20 Index (CD20) inching up just 0.15% in the same period.

SOL moved from around $126.4 to a high of $130 before easing. The rally came as a tight consolidation pattern saw a breakout on strong volume of around 2.34 million SOL, according to CoinDesk Research's technical analysis data model.

The move extends a short-term recovery that began after the token defended key support near $127.

Activity across the Solana network has surged in recent days, driven by a wave of speculation tied to Claude Code, an AI toolkit developed by Anthropic.

A growing number of developers are introducing tokens linked to viral AI repositories using Bags, a Solana-based launchpad. The result is a burst of transaction activity, with active addresses surging from 4.7 million in the first week of the year to 18.9 million last week and transaction figures going from 390 million to 530 million a week, according to DefiLlama data.

While many of these tokens remain speculative, some have been "claimed" by the original AI project teams, allowing trading fees to be redirected to the developers.

This dynamic has fueled a feedback loop of new introductions, boosting onchain activity. Total value locked on the Solana network has nevertheless dropped to around $8.4 billion.

For now, $130 stands as a key pivot. A sustained push above could open room for a move toward recent highs. A breakdown, however, might expose SOL to retests of support in the $126–$124 range.

Disclaimer Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.