- The REAL ECONOMIC VALUE) from Solana has dropped by 93 %, which is primarily due to the severe decline in Memecoin trade.
- Sales on the decentralized stock exchanges of Solana have broken up by 94%, with the income from gas fees now comes from less than 1% of the wallets.
Although the course of Solana (SOL) is currently showing strength, now increased by 4.2 % and stays above the important support of $ 120, the overall blockchain activity is disappointing-the network revenue has dropped by 90 %.
Solana investors should act with caution
After the publication of the US inflation data, the Solana course rose by a further 4.5 % and was $ 125 at the time of going to press, in the middle of the general recovery of the cryptom market. This recovery follows five days with consecutive SOL course losses.
So that Solana can confirm the upward trend, it must first take back the support of $ 130, which now acts as a resistance. Solana is still almost 60 % below his all -time high of $ 295, and the declining indicators stop. A “death cross” has already arisen between the 50-day and 200-dayema, and the 100-dayema is about to be faced with the 200-dayema. If this occurs, this could be a sign of further downward pressure on the value.
Winning Memecoin activity harms the network income
Brandon Farmer, an analyst at Zeroknowledge Polygon, has expressed concerns about the real economic value (REV) of Solana and cited a severe decline in the most important network indicators. Farmer noted that the previous increase in the Rev Solana was largely heated by the high trade activity with meme coins on decentralized stock exchanges, which led to a temporary increase in demand for block space.
The increased activity led to a significant increase in transactions per second, as speculative dealers made large amounts of business. This phenomenon, which is known as the “Sol-Wohlstandes effect”, drove the Solana price up, ensured additional liquidity and increased the risk of risk of investors.
The recent drop in prices from Solana has led to the dealers taking a risk fire. In connection with a strong decline in meme coin activities, the Rev from Solana fell by more than 93 % last week, as mentioned in our previous news articles.
Solana Dex turnover crash
Apart from the activity of the meme coins, the volume of the decentralized stock exchange (Dex) in the Solana network has dropped significantly, whereby the trading volume is 94 % below the highest level. This significant decline underlines users’ dwindling commitment on the network’s Dex platforms.
In addition to these concerns, the income is from the gas fees of Solana have concentrated strongly, with only 0.95 % of the wallets are responsible for 95 % of the total fees on the blockchain. This unequal distribution indicates a lower activity in the wider user base and a dependence on a small group of active participants.
