Solana’s SOL Shows Resilience Amid Price Decline
- SOL is currently down 72% from its all-time high of $295, trading at approximately $86 as of February.
- Spot SOL ETFs launched in late October saw over $100 million in average net inflows during the first five weeks, but have since decreased to $20-$25 million weekly.
- Over the past month, Solana processed $108 billion in DEX volume, surpassing Ethereum’s $63.7 billion.
- In the last day, Solana generated $3.1 million in app revenue compared to Ethereum’s $2.95 million.
- Active addresses on Solana reached approximately 2.17 million, significantly higher than Ethereum’s count of about 682,236.
Despite a significant price decline and reduced ETF inflows, Solana maintains strong on-chain activity and revenue metrics that exceed those of competitors like Ethereum. This resilience raises questions about SOL’s valuation relative to its network usage.
With DEX volumes leading the market and active addresses reaching over two million, Solana’s current price may not reflect its underlying network strength and activity levels.(Source)
