The amount of Dex Solana has exceeded the amount of Ethereum. However, general activity is much lower than the level recorded in January. Hyperlixvid's domination in the permanent merchant market of term contracts undermines investors' confidence in Solana's long-term perspective.
It has not recovered to $168 since June 12th. Sol's native Solana fell by 15%. This downward trend continued during a period characterized by a decline in network activity and a decline in meme demand.
Nevertheless, Solana recently recovered her second position in the volume of her decentralized scholarship (DEX). This made traders wonder whether the soil could recover to a level of $180 in the near future. Dex for Solana's activities reached $64.1 billion in 30 days, exceeding $61.4 billion, according to Defilma. The BNB Network took the lead position at $159.6 billion during the same period, but Solana took over market share in June. Key players contributing to this growth include Raydium, which recorded a volume of $19.1 billion, followed by Pump.fun at $14.2 billion and $13.9 billion. However, global Dex Sur Solana activity remains 91% lower than the levels observed in January. The appeal of the Memoyan sector can undermine enthusiasm regarding increasing share of the Dex Solana market.
Another issue for soil investors is the growth of Hyperlikvid, which has established itself as the leading blockchain of eternal trade. This development has reduced interest in Solana and BNB chain Ethereum Layer-2 solutions and decentralized applications (DAPP) separately.
Defilma reports that the volume of high lipid auctions over the past 30 days was 84% higher than the total amount of its five biggest competitors. More importantly, its success hypothesizes that other projects can take into account the possibility of launching their own independent blockchains.
This fear undermines the merchant's confidence in Solan's ability to become a dominant actor. Loss of trust is evident in derivative markets where demand for long positions borrowed in soil has decreased.
In neutral markets, as a rule, eternal term contracts show annual loan levels ranging from 5% to 12% in long positions. The transition to the negative rate shows bears as uncovered sellers are carrying the cost of keeping the transaction. Over the past 30 days, derived data demonstrates a lack of sustainable optimism about the soil. The main potential soil catalyst is the expected approval of the Solana Spot Tracked (ETF) Foundation Committee for exchange with the American title, with a solution expected in October. At the same time, Bull investors are relying on the network's technical capabilities to drive price recovery. Dubo, representing the DRIFA protocol, noted that Solana's strong base layer increases "asset availability" and allows tokens to be used as a paper security. He also emphasized that there is no "combination engine from Where." This is used to protect users from distributed exchanges (DEX) from issues related to transaction or reorder prioritization. Solana is often associated with the same launches and tokens, but its ecosystem covers a wider range of usage options. Hyperlikvid is the exception, but other blockchains like Berahain have struggled to support large-scale levels of deposits. Given the low cost and high scalability of Solan's trading, there could be a $180 rebound even before the October ETF decision.#solana #BinanceAlphaAlert 
