The Solana (SOL) token recently exhibited a 22% growth after reaching a low of $180. Despite this, SOL's price remains 27% below its all-time high.
Impact on SOL Futures Market
SOL futures contracts typically trade at a premium over spot prices. However, the current futures discount might indicate professional traders' skepticism. Historical data shows that such positioning does not always accurately predict market trends.
Solana Blockchain Usage Metrics
The number of active addresses interacting with the top ten Solana DApps increased by 21% month-over-month. This trend contrasts with decreased activity on other blockchains such as Base, Polygon, and Ethereum.
Increase in Solana's Total Value Locked (TVL)
Solana's total value locked (TVL) in DApps grew by 5.5% over 30 days. This solidified Solana's standing as the second-largest blockchain by TVL. Significant growth contributors included projects like Meteora, Binance Staked SOL, and Marinade Finance.
Despite the challenges Solana faces, the increasing blockchain usage and TVL growth highlight its potential for long-term SOL price appreciation.
