Please tell me, what is the logic behind SOL's revival? It is no different from EOS now, stop fantasizing.
This is WEB3, the fate of copycat chains, no one can escape.
王总小助理
--
Solana's Fifth Birthday: Ecological Collapse Sets Record, Melancholy Overshadows Celebration
Solana cheers for its fifth anniversary, but no one is there to applaud. This high-speed blockchain, once filled with great expectations, now finds itself mired in turmoil, with DEX trading volume plummeting from a peak of $36 billion to less than $1 billion, even hitting an annual low. The once-promising 'Ethereum killer' has lost its shine, investor confidence is frozen, market enthusiasm has cooled, and the birthday party is shrouded in heavy shadows. Is this a brief low point, or the beginning of a deeper abyss?
In five years, glory has become a thing of the past. In March 2020, Solana made its debut with unparalleled speed and scalability, quickly rising to become a hotspot for DeFi and NFTs, with TVL reaching hundreds of billions. However, times have changed; on-chain activity has sharply declined, trading volume has shrunk by nearly 97%, and open contracts have dropped from $5 billion to just over $3 billion. The data mercilessly reveals: user fluctuations, liquidity loss, and the once-boisterous order book is now silent. Technical upgrades and community efforts seem powerless to turn the tide, and Solana stands on the brink of existence.
In terms of price, SOL is currently at $128.81, up 2.15% for the day, but the RSI is only 41, and OBV consumption is at 64.96 million, indicating weak recovery. Since the end of February, the low-high-low trend has kept bears in control. Unable to break through $140, the $120 support level is at risk, and falling below could trigger a greater storm. On Solana's fifth birthday, joy is hard to find, and only mist obscures the road ahead. Follow + watch Zuyie live to explore the next chapter of the crypto world!
Solana cheers for its fifth anniversary, but no one is there to applaud. This high-speed blockchain, once filled with great expectations, now finds itself mired in turmoil, with DEX trading volume plummeting from a peak of $36 billion to less than $1 billion, even hitting an annual low. The once-promising 'Ethereum killer' has lost its shine, investor confidence is frozen, market enthusiasm has cooled, and the birthday party is shrouded in heavy shadows. Is this a brief low point, or the beginning of a deeper abyss?
In five years, glory has become a thing of the past. In March 2020, Solana made its debut with unparalleled speed and scalability, quickly rising to become a hotspot for DeFi and NFTs, with TVL reaching hundreds of billions. However, times have changed; on-chain activity has sharply declined, trading volume has shrunk by nearly 97%, and open contracts have dropped from $5 billion to just over $3 billion. The data mercilessly reveals: user fluctuations, liquidity loss, and the once-boisterous order book is now silent. Technical upgrades and community efforts seem powerless to turn the tide, and Solana stands on the brink of existence.
In terms of price, SOL is currently at $128.81, up 2.15% for the day, but the RSI is only 41, and OBV consumption is at 64.96 million, indicating weak recovery. Since the end of February, the low-high-low trend has kept bears in control. Unable to break through $140, the $120 support level is at risk, and falling below could trigger a greater storm. On Solana's fifth birthday, joy is hard to find, and only mist obscures the road ahead. Follow + watch Zuyie live to explore the next chapter of the crypto world!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
7
0