$SOL The price of Solana decreased by 2.5% to reach $121, influenced by a pivotal news regarding Upexi, one of the largest companies holding SOL. The company filed a "Shelf Registration" worth one billion dollars, a procedure that allows it to sell its assets of the currency in the market, raising concerns about a coming massive sell-off (Overhang Supply).
Concurrently, the data showed a concerning decline in Network Activity by 97%, as the number of monthly active traders dropped from over 30 million to less than one million. This collapse in activity reflects the exit of speculators and users of decentralized finance (DeFi) applications and the Memecoins projects that had fueled previous surges of Solana, putting the currency in front of a real test of its fair value.
