Solanas price has been downhill lately , but the buzz on the network is not letting up , which has got traders and long term holders scratching their heads ๐๐ค
That disconnect between the price of Solana and the number of people using it - or at least sending transactions - is usually a sign of something deeper going on in the market , rather than just plain weakness ๐๐
Solana's still one of the most popular blockchains out there, rattling off millions of transactions with fees so low you can just about ignore them โก๐ป
The numbers are telling the same story - daily active user numbers, DeFi activity, NFT sales, the lot - all say the network's not losing steam anytime soon ๐๐ฅ
But what's sending the price down - and it can't all be good news ?
The big picture is that investors are getting a bit spooked in the market at the moment and are cutting back on all those high-risk assets like Solana ๐๐
And while some traders are just happy to cash in after those earlier price bumps , that's only going to pile on some extra selling pressure for now ๐ฐ๐
Plus - to top it all off - there are a lot of investors putting so much borrowed money on the line that markets might just go a bit haywire when someone gets hit with liquidation - which can be a real nasty shock ๐งจ๐
At the same time though, developers are still churning out the new apps on Solana like crazy, kicking the door open on new DeFi projects , gaming and even consumer-grade stuff ๐ ๏ธ๐ฑ
And all those growing numbers tell us the same thing - this is not a site for speculators getting in on the action, this is real users demanding what Solana's offering ๐๐ง
So what next
- Do we see Solana's price get back to where it was before - or at least near those key levels that usually signal a trend back in play ? ๐๐
- Or does all that growing activity actually force some bigger price adjustments ? ๐๐
- And for all those who want to get back to being optimistic about Solana, will market sentiment actually shift back in its favour ? ๐โก
- When usage goes up but price goes down, history says this is just the calm before the storm ๐ฎ๐ฅ
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