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Reporter
Solana’s [SOL] community gathered a great deal of attention over the last couple of months. Among the significant factors for this was the appeal of the DEXes (Decentralized Exchanges) on the network.
To utilize this chance, Jupiter stated an airdrop for its tokens.
While token airdrops normally draw users to networks in the days or weeks leading up to their launch, a comparable pattern was not observed on the Solana network.
Still a long method to go
According to Artemis’ information, Solana’s Daily Active Addresses fell from 1.17 million to 920,000 over the last couple of days. The general variety of deals taking place on the network likewise discovered a descent.
A decline in active addresses might signify a subsiding interest or engagement with the network.
A lower level of user activity and deals can weaken Solana’s standing in the wider crypto area, possibly impacting financier self-confidence and the network’s total community development.
Source: Artemis
Furthermore, Solana’s NFT sector stopped working to acquire traction.
Over the last month, the Solana NFT blue-chip index, which tracks the most popular NFTs on Solana, experienced a decrease in interest, sitting at 3715.581 at press time.
This might have negative results on Solana’s total community and market standing, moving on.
Source: Solanafloor
Just how much are 1,10,100 SOLs worth today?
State of SOL
The SOL token was likewise refraining from doing well throughout this duration. In the last 24 hours, the total cost of SOL fell by 2.11%. At press time, it was trading at $101.
In the last couple of weeks, SOL’s trading volume fell from 5.78 billion to 2.81 billion.
Source: Santiment
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