Solana’s indigenous token token, SOL (SOL), faced 8%rejection on March 25, touching $ 147 for a while. In the last three weeks, SOL has had a hard time finding a $ 150 level.
Some analysts can benefit greatly through the expansion of the Solana network, including the final approval of the US Solana Spot Exchange-Traded Fund (ETF), and the STABLECOINS and Money Market Funds in Solana Network. I insist.
Other people, such as Nikita Bier, co -founder of TBH and gas new companies, think Solana has a “basic building block that has been” having something in mobile “.
source: Nikitabier
Bier emphasized the long -term influence of Donald Trump’s construction regulatory environment and Memecoin Frenzy, and introduced the new user’s “millions” to the Web3 wallet and distributed applications (DApp). In essence, Nikita Bier believes Solana is well positioned due to a simplified on boarding experience for mobile users.
Lack of Bitcoin protection zones should avoid all cryptocurrencies.
Despite the possibility of establishing a “consumer grade” market for DApps, most merchants suffered losses as Memecoin Mania disappeared and onChain volume plunged. Investors have doubted whether the SOL has the power to recover more than $ 150. Solana is more than interest in DApp, and competition with other blockchains is growing.
It was also a great disappointment for some investors that the US government would not buy Altcoins for strategic preliminary and digital asset stocks. On March 6, President Trump signed a bill that allowed the US Treasury to allow a budget neutral strategy to acquire Bitcoin (BTC), and the government -owned Altcoin was strategically sold. In fact, there was no explicit mention of Solana or other Altcoin in the digital asset stock administration order.
Some may claim that the Solana ecosystem has expanded beyond the Memecoin Trading and Token Launchpad. This is because TVL (Total Value Locked) has grown in liquid staying, mortgage, synthetic assets and yield platforms. But Solana’s fees and DAPP revenues continued to decrease. Reducing OnChain activity reduces appeals for investors in SOL, which limits upward potential.
SOLANA 7th DAPP income (left) and chain fee (right), USD. Source: Defillama
Solana DAPP revenue has been reduced from $ 12.7 million for two weeks ago to $ 12 million for seven days until March 24. Similarly, the basic hierarchy reached $ 3.6 million in the same period and dropped sharply from $ 6.6 million during the seven days ending March 10. Interestingly, this decrease has been stable with the total value submerged (TVL) at 53.2 million SOL.
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Solana is no longer the dominant network of DEX volumes.
According to Defillama Data, Solana’s decline in onchain activity is about the fact that the BNB chain has soared to the highest point of the DEX volume, despite the BNB chain 34% less than Solana.
Distributed exchanges market share. Source: Defillama
In terms of sheep, Solana dominated the DEX industry from October 2024 to February 2025, but recently lost its ground with Ether Leeum and BNB chain. As a result, some of the price weaknesses of SOL come from reducing Solana’s OnChain activity compared to competitors. For example, the trading volume of the ring has increased by 35% over the last seven days, while Pendle’s activity has increased 186%.
The basics do not show more than $ 150, but the Solana network uniquely combines the degree of diversification that has successfully proved the integrated user experience. For example, the BNB chain and TRON provided similar extensions, but there was no wallet or DApp ranking in Apple App Store, such as Phantom’s Phantom Wallet in November 2024.
This article is for general information purposes and should not be considered legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.