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The volatility of cryptos saves anyone and Solan (land) is no exception. After the 28th February reached $ 125, the native token of the Solana blockchain experienced a 17 %revival, indicating a possible return of around $ 180. However, this recovery is far from obtained. Land still 50 % compared to the historical summit of $ 295, the land faces several obstacles that could slow its increase. Between slowing activity on the chain with lack of demand on derivative markets and concentration of transaction costs in the hands of a handful of users of eye ecosystem ecosystems. What are the signals that could trigger a bull rally?
The shortness of activity of activity on the chain
Solana Blockchain has built its reputation for its speed and low transaction costs, which attracted many users, especially in the world of the same and NFT. But after a few weeks, this murmur disappears. According to Defillam, the data dropped by 73 % per month, which reflected the decline in users’ involvement.
This slowdown is also observed on the side of the most popular decentralized applications in the network. Jito, the main platform for downloading liquid, has seen a 56 % decrease in the number of active addresses per month, while Magic Eden, the flagship of the NFT Ecosystem market, noted that its activity dropped by 38 %. Even Save (formerly Solend), which offers rental services, has experienced a reduction of 42 % of its users.
These characters strongly contrast with the numbers of other networks. Based on a layer of 2 Ethereum, the decrease in the number of active users for the same period is only 2 %. Even Ethereum himself, although more expensive and slower, resists only a drop of only 17 %. These differences indicate that the slowing of Solana cannot be attributed only to the bursting of the same bubble, but that it reveals deeper dyspnoea of the on-seam activity.
Structural obstacles and lack of bull catalysts
In addition to a decline in blockchain activity, other solan recovery factors slow down. One of the most important is the lack of interest of lever effects traders. The level of financing of permanent contracts in recent days has remained negative on the market market. This means that open sellers are ready to pay for maintaining their positions, a signal that translates a permanent lower feeling.
Another critical point: concentration of transaction costs for a reduced number of crypto actors. According to the ARNDXT analysis on the Social Network X (formerly Twitter) on March 7, 2025, the author of the “Theding on the Edge”, 95 % of Solan’s cost generated only 1.3 % of users. These transactions are mainly caused by MEV robots and market mute companies such as Wintermute, rather than a wide and diversified adoption. Such centralization exhibits a network of dysfunction in the event of downloading these actors.
Finally, the absence of Solana in the portfolios of World Liberty Financial (WLF), a fund associated with President Donald Trump, also considered an asset. Although Crypto Trump, the same launched on the Solana, experienced a certain hype, WLF decided to invest in Ethereum (ETH), wrapped Bitcoins (WBTC), Chainlink (Link) and Aave (Aave), but not to sol. This lack of contribution in a visible institutional portfolio can be seen as a lack of recognition of the long -term potential of Solana.
To hope that Solana will reappear $ 180, he will have to overcome several challenges. Restoring the activity of the on-line, especially outside its crypto market, would be a positive signal. However, an important announcement, such as the approval of the ETF Solana in the United States, could trigger a wave of purchases and force the sellers who discover their positions, which would create a short effect. For the time being, uncertainty dominates and investors carefully examine further development.
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A graduate of the Toulouse and the Blockchain Consultant Certification certification holder and I joined the adventure of Cointribuna in 2019. I convinced of the potential of blockchain to transform many economy sectors, committing to raising awareness and informing the general public about how the ecosysty developed. My goal is to allow everyone to better understand blockchain and take the opportunity they offer. I try to provide an objective analysis of messages every day, decrypt trends on the market, hand over the latest technological innovations and introduce the economic and social issues of this revolution.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.