Solana’s SOL Price Decline Amid Strong Onchain Metrics
- SOL is down 72% from its all-time high of $295, currently priced at $86 as of February.
- Spot SOL ETFs launched in October, initially attracting over $100 million in net inflows, but have since slowed to $20-$25 million weekly.
- In the last month, Solana processed $108 billion in DEX volume, surpassing Ethereum’s $63.7 billion.
- Solana generated $3.1 million in app revenue within the last day, compared to Ethereum’s $2.95 million.
- Active addresses on Solana reached approximately 2.17 million versus Ethereum’s roughly 682,236.
Despite a significant decline in price, Solana’s onchain activity remains robust, with leading metrics in decentralized exchange volume and app revenue compared to competitors like Ethereum.
The current price of SOL reflects a notable disconnect between market activity and valuation, as evidenced by its strong DEX performance and substantial daily revenue generation.(Source)
