Solana’s Aboriginal Token SOL (SOL) fell 17.2% between January 24 and January 27. After touching the lowest level in 10 days, the price recovered to $ 235, but it is still 26% low on January 19. Time maximum $ 295. This recent recent recent stagnation reflects 40% reduction in Solana’s network on chain trading activities. Despite short -term weaknesses, SOL is likely to benefit from 2025.
7 days onchain trading volume ranking, USD. Source: Defillama
Solana’s competitors showed more elasticity. The bnb chain volume decreased only by 1%, while the basic layer of Ether Leeum decreased by 10% for seven days. However, other competitors and Ether Leeum Layer -2 solution reported on the onChain volume, 25% to 30% lower during the same period.
Meteora, 45% reduction in negative highlights within Solana’s ecosystem; Orca, 62%drop; And the lifespan with a 53% decrease in activity. On the contrary, pump.fun memecoin launchpad is a bright point and has increased 24% over the same period. Solana’s Raydium platform remained a leader with $ 35.1 billion in onChain activities per week.
Solana tvL rose 27%to surpass Ether Leeum and BNB chain.
It is misunderstood to assess the potential rise of SOL based only on Solana’s OnChain activities. It is greatly led by the distributed exchange (DEXS) based on Solana’s OnChain activity. Activities such as staying, loan and actual asset (RWA) applications often do not generate consistent onchain volume. Therefore, TVL (Total Value Locked) provides more comprehensive network usage.
Total value locked (tvL) ranking, USD. Source: Defillama
Solana’s TVL increased 27%in 30 days on January 28, decreasing 1%of Ether Leeum and BNB chains, which decreased by 9%. This growth has widened the gap with TRON by solidifying Solana’s second place in the market. Notable contributors include Jito and Raydium, which has seen a 29% increase in deposits, and Binance Staked Sol has increased 52% impressive over a month.
Ether Lee’s recent decline is related to the weak performance of LIDO, Eigenlayer and Ether.fi. In particular, Eigenlayer, a staying platform launched in June 2023, has $ 13.6 billion in total value locks (tvL), which surpasses the deposits of the entire Solana ecosystem. This emphasizes Ether Leeum’s dominance and shows that some investors are willing to pay more than $ 5.
To understand the feelings of Solana Traders, it is important to investigate the monthly Sol Future Contracts Premium. Futures contracts are generally traded from 5% to 10% premium compared to the field market to explain the longer settlement period. More than 10% of premiums show strong strong feelings, and less than 5% of the level suggests that the buyer’s trust is weak.
SOL 2 months gift annual premium. Source: LAevitas.ch
On January 27, SOL FUTURES simply increased to 12% annual premium, but quickly decreased to 6%. Despite the 21%price rally over the last 30 days, the relatively low premium suggests that there is a lack of passion among investors. Some analysts argue that the recent increase in SOL prices has been mainly led by the launch of memo coins and official Trump (Trump) tokens.
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Regardless of whether risk avoidance comes from the uncertainty of the global economy or stock market, the probability of reaching a new all -time high in the short term seems to be slim. Some analysts point out that the recent SOL Price profit has been greatly led by the release of Memecoins and Trump (Trump).
Potential drivers for the future price recognition of SOL include increasing the adoption of Web3 applications in the migration of Stablecoin from TRON to Solana and especially in the artificial intelligence sector.
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.