Solana ranked second on the list of blockchain by total NFT sales volume. SOL’s reaction was negative and so was its performance on the metrics front. Solana’s [SOL] Non-fungible Token [NFT] ecosystem flashed concerning signals over the last week as it registered a decline. According to Dune Analytics, Solana NFT Marketplace’s daily active users have […]
’s on-chain metrics gave even more reasons for concern. For instance, SOL’s Binance and DyDx funding rates declined in the last few days, suggesting less demand from the derivatives market.
SOL’s development activity also went down over the past week, which was a negative signal for the network.’s weighted sentiment remained consistently negative, reflecting the investors’ lack of confidence.Subscribe to get it daily in your inbox.
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