Solana loses 6.88 billion: The crypto market panics

The crypto universe is a universe where every movement is scrutinized, analyzed, and often dramatized. So, when Solana (SOL) saw its transaction volume drop from $12.60 billion to $5.72 billion, the entire crypto ecosystem woke up, ready to interpret the slightest fluctuation. The burning question: does this decline signal the end of the upturn or a simple moment of turbulence? Let’s dive into this situation which, like a financial thriller, holds the breath of many investors.

A fall in the Solana crypto that raises doubts

On November 12, Solana experienced an impressive rise, culminating in a trading volume of $12.60 billion. A summit, worthy of the best days of altcoin, which gave hope to crypto fans.

But, as is often the case in this market as unpredictable as a stormy sea, the wave quickly broke. Today, the volume only reaches $5.72 billion. Translation ? A deadweight loss of 6.88 billion and a wake-up call for seasoned analysts.

This fall is not just a matter of numbers. It crystallizes a return of distrust. The bears, these famous “bears” of finance, seem to have scored a point by locking the progression of Solana at $216.

Their strategy? Make the climb to $300 as distant as a mirage in the desert. And as long as volume remains anemic, the chances of a rebound diminish. Investors, watching for a sign of recovery, will still have to wait. And waiting, in the crypto jungle, is often synonymous with nervousness.

Active addresses in decline: the other shadow on the board

Volumes are not the only gauge to worry about. Solana network engagement, measured by the number of active addresses, reveals another stark truth. During the last days of October, Solana could boast of more than 20 million active addresses.

Today ? There are only 17.98 million left. This significant drop might seem trivial to novices, but for those in the know, it tells a worrying story: a gradual disinterest among users.

However, in the crypto market, commitment is king. A neglected network is an asset that is losing its strength and is at the mercy of price fluctuations.

Clearly, if active addresses continue to melt like snow in the sun, Solana risks seeing its fundamental support erode. Traders know this: without a renewed interest, the slide towards $190.30 mentioned by crypto analysts becomes an increasingly likely scenario. Meanwhile, Michael Saylor predicts a continued rise in Bitcoin.