🔥 Solana fees surge, but the price continues to slide! Why?

The fees on Solana have skyrocketed, but this does not imply good news behind it! 🚨

Despite blockchain fees hitting new highs, the Solana market remains sluggish, with trading volume and active addresses continuing to decline.

💸 In the past 24 hours, Solana generated $1.4 million in fees, but this is mainly due to sellers dumping heavily, resulting in negative net flow.

📉 Daily active addresses and transaction counts have dropped significantly, indicating insufficient demand, and the price of SOL may continue to decline.

🚪 Worse yet, liquidity is flowing out of the Solana protocol, with the locked value dropping significantly, putting immense pressure on the price.

If these trends persist, SOL may face greater downside risks, and the hope for a price rebound is slim!