The solana (left) price is traded at 52 %low levels than record levels. In the last month, the price was 41 %and a 40 %decrease in TVL. This indicates a significant decrease in the trust of the investor in the ecosystem.
TVL and activity data
It is observed that the total value locked in the Solana network decreases by 39.2 %in the last month. TVL decreased in January to $ 7.4 billion from the highest of $ 12.1 billion of all time. This decrease may indicate a decrease in active participation in defi protocols.
The market value of Memecoins based on Solana fell from $ 25 billion in December to $ 8.3 billion. The decrease in market value is parallel to the loss of 80-90 %of the token’s summit from the summit. The decrease in Dex activities is also interpreted as an indication of the withdrawal of investors from the market.
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Technical indicators and expectations
Left price graphics indicate that the double peak formation is completed. Daily graphic reveals that instant support levels are around $ 135. If this level of support is lost, the price may be at risk of going down to the range of $ 120-110. The RSI indicator indicates excessive sale conditions in the market.
Analyst GUM, within the framework of the current technical situation, “this, before the leap can be expected to expect a minimum of $ 110,” he said.
The decreases in TV and Dex transaction volume give the impression that there is a general melting in the Solana ecosystem. Onchain volume has declined from $ 97 billion in the middle of January to $ 11 billion this week. Investors can interpret these developments as decreasing liquidity and low user activity in the ecosystem.
These changes in market data may cause investors to rethink on risk management strategies. Although the current decrease trend gives signals of recovery from time to time, investors should pay attention to the importance of doing detailed research by being cautious.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
