Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Why SOL Failed to Rise Despite Solana’s Rapidly Growing Network
ALTCOIN NEWS

Why SOL Failed to Rise Despite Solana’s Rapidly Growing Network

By Crypto FlexsFebruary 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Why SOL Failed to Rise Despite Solana’s Rapidly Growing Network
Share
Facebook Twitter LinkedIn Pinterest Email

  • Solana’s TVL has soared, reflecting the growth of the DeFi ecosystem.
  • SOL rose only 1% last month and market indicators remained weak.

Solana (SUN) It’s been an optimistic month in terms of network activity, with a significant number of users being acquired.

However, the same could not be said for the price action of the token, which was affected by weakness during this period.

Solana’s network activity is increasing

Artemis recently posted a tweet revealing the top blockchains by largest daily active users in the past month.

Solana did not make it into the top three, dominated by Phantom (FTM), Optimism (OP), and Base. However, it was expected to increase by 21% compared to the previous month.

The largest increase in daily active users compared to the previous month was:

1. Phantom
2. Optimism
3. Base
4. Gnosis Chain
5. Solana
6. Polygon zkEVM
7. Bitcoin
8. Short-distance protocol
9. Aptos
10. Zora Network

Are you surprised by these numbers? pic.twitter.com/F07XjNxcPL

— Artemis (@artemis__xyz) February 5, 2024

AMBCrypto took a closer look at Artemis’ metrics to see how other relevant metrics were doing last month. data. As rightly highlighted in the tweet, Solana’s daily active addresses have been rising over the past 30 days.

As a result, daily transactions on the blockchain remained high over the same period.

Source: Artemis

There was also optimism in terms of value captured, as evidenced by the increase in metrics. For example, booth Solana’s fees and revenue remained high over the past month, with a huge spike on January 31st.

Blockchain performance in the DeFi space has also improved, which is evident in the significant increase in Total Value Locked (TVL). At the time of reporting, brushTVL reached $1.66 billion.

Source: Artemis

Solana investors are not very pleased

Although the blockchain saw a surge in network activity, the price action of its native token did not match well.

According to CoinMarketCap, the price of SOL has moved sideways over the past month with the price rising by just over 1%. At the time of this writing, SOL was trading at $96.06 with a market capitalization of over $41.9 billion.

To determine what was wrong, AMBCrypto checked SOL’s on-chain metrics. We found that SOL’s Weighted Sentiment remained on the negative side for most days last month.

This indicates that bearish sentiment surrounding Solana dominates the market at press time.

Binance funding ratio also remains in the green, meaning derivatives investors are actively buying. brush This is because price volatility has remained low.

Source: Santiment

Another possible reason for SOL’s sluggish price action could be the result of whale behavior.

AMBCrypto is reported Previously, whales were sending SOL to exchanges in quick succession, which meant selling pressure.


Is your portfolio green? Please confirm SOL Profit Calculator


Looking at Solana’s daily chart, it seemed likely that there would be a few more slow moving days. Bollinger Bands showed that the price of SOL is in a less volatile area.

MACD also showed the possibility of a bearish crossover. Nonetheless, SOL’s Money Flow Index (MFI) turned strong, recording a sharp rise.

Source: TradingView

Next: ADA price remains at $0.52, but forecasts turn more optimistic.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The method of transforming ASTER WHALES into panic is as follows.

September 25, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025
Add A Comment

Comments are closed.

Recent Posts

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025
Most Popular

Exploring trillion-dollar potential in emerging markets

December 6, 2024

Ethereum ETF on hold? U.S. regulators are expected to block spot products in May.

April 25, 2024

Ethereum price soars above $2,300

December 8, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.