Solana Activity Hits Multi-Month Low as Sentiment Turns Bullish
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Solana (crypto) on-chain activity and adoption weakening: weekly active addresses fell from 5.01M in February to 2.89M recently, and SOL has traded sideways below $98 after dropping from ~ $145 to ~$75. Offsetting DeFi and market signals: social sentiment is bullish at 3.2:1, daily app revenue ~ $2.6M and DEX volume near $1B/day, indicating strong DeFi revenue and token activity despite lower on-chain engagement.
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- Solana’s weekly active addresses dropped from 5.01 million in February to just 2.89 million.
- Bullish sentiment hit 3.2 positive comments for every one bearish comment across all platforms.
- Solana leads daily app revenue at $2.6 million while DEX volume surged to $1 billion per day.
Solana is sending two conflicting signals at once, and the crypto market is trying to decide which one to believe. On-chain activity has dropped. Weekly active addresses have fallen from a high of 5.01 million in early February to just 2.89 million in the most recent week, reflecting fewer wallets moving SOL and reduced transactional engagement with the network.
The price has largely reflected that, with Solana trading sideways below $98 for months after falling from around $145 to the $75 area following February’s broader market drop.
And yet sentiment has moved in the opposite dire…
Read The Full Article Solana Activity Hits Multi-Month Low as Sentiment Turns Bullish On Coin Edition.
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