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.
Young Hoon Kim — the social-media personality who styles himself as the “IQ 276” record holder —...
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