- Solana’s funding rates indicate low bullish sentiment despite the launch of Firedancer and increasing network transactions. DApp revenues and DEX activity on Solana have declined, reflecting market fatigue. SOL prices struggle to stay above $145, with TVL down $10 billion from September peak.
- Solana’s TVL has dropped since hitting $15 billion in September, impacting SOL supply. DApp revenues decreased to $26 million weekly from $37 million. Traders’ interest in memecoins waned post-flash crash. SOL’s performance may reflect broader market slow down.
- Solana’s network fees fell 21% in 30 days, less than BNB Chain’s 67% and Ethereum’s 41% declines. SOL perpetual futures show weak bullish leverage demand. Solana’s funding rate stood at 6%, signaling bearish sentiment after a 46% price drop.
- Firedancer’s mainnet launch and Kamino’s new products aim to attract investors. Whether SOL can reach $190 again is uncertain. Improved software and new DApp offerings may not be enough to sustain a bullish trend. Kamino’s $69 million in annualized fees indicate ecosystem growth.
Read more at Cointelegraph: SOL Slumps As TVL Slides And Memecoin Demand Fades