Solana's native token, SOL, fell 22.5% from January 6 to 13, hitting a 10-week low of $169. By January 15, it had rebounded 15%, but was still trading at $200.
The inability to surpass the $200 mark raised concerns that a decline in DApp activity could prevent SOL from returning to $230 in the near term.
According to DefiLlama data, Solana’s network activity from January 8 to 15 was 1
Negatively performing projects included Raydium (-23.3%) and Orca (-2%), while Lifinity increased by 27.7%,
Stabble% showed positive performance, increasing by 29.7%. During the same period, Ethereum's on-chain trading volume increased by 9%, while Arbitrum's activity increased by 2
Ethereum's growth was driven by Curve Finance, Pendle and Fluid, while Uniswap and Camelot contributed to Arbitrum's rise.
Aerodrome, the largest decentralized exchange on the Base network, also recorded a 14% increase in trading volume.
Some applications, such as loans, staking, gaming, and synthetic assets, do not depend on continuous transactions, so the total value of the network’s deposits (TVL) is not ideal.
Monitoring the trends of the various cryptocurrencies will provide more accurate insights. Solarana’s monthly TVL fell by 5.9%, but this was due to market-wide declines, including Ethereum’s 18.1% decline.
Solarana's TVL decline was primarily driven by Jito (-14.1%) and Marinade (-12%), while Ethereum's decline was driven by Lido and Ei
genLayer's staking solution is driving the decline, therefore Solarana's TVL decline is not seen as a major concern.
In addition to on-chain metrics, Solarana investors are excited about the possibility of a spot ETF being approved in the U.S. Outgoing CEO Gary
Following SEC Chairman Gensler's anti-cryptocurrency stance, investors are sceptical about Donald Trump, who is set to take office on January 20th.
I hope that the next President (Trump) will implement new policies.
2025/01/16 15:54 KST
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