SOL struggles as Solana TVL slides and memecoin demand fades
SOL demand cools as its total value locked drops by $10 billion and memecoin trading slumps. Traders’ lack of appetite for long leverage could further complicate the situation.
Key takeaways:
SOL funding rates signal low bullish conviction after a 46% price drop, despite Firedancer’s launch and rising Solana network transactions.
Solana DApp revenues and DEX activity have weakened sharply, suggesting broader market fatigue even as Solana’s ecosystem grows.
