The number of active addresses on the Solana network has exceeded 14.6 million, hitting a peak in annual transactions, although the price of SOL has slightly decreased.
The increase in on-chain activity does not lead to a price surge; instead, strong cash flow leaving the market causes investor sentiment to be polarized between selling and buying opportunities.
MAIN CONTENT
Active addresses on Solana surged to 14.63 million, with annual transactions reaching 116.66 million.
Users are returning to withdraw capital, resulting in over 91 million USD of SOL leaving DeFi on Solana.
Spot investors are actively buying in, marking the inflow of capital from other ecosystems.
What is the current state of Solana's on-chain activity in 2025?
The latest data from Santiment shows a sharp increase in active addresses to 14.63 million in the past 24 hours, along with a trading volume increase of 12.74%, reaching 3.75 billion USD. However, the price of SOL dropped by 1.14 USD, indicating that market trends are not aligning with on-chain activity.
The sharp increase in active addresses reported by Santiment does not necessarily mean that prices will rise, as some experts warn this could be a sign the market is preparing for a negative adjustment.
High on-chain activity on Solana signals community interest, but price volatility indicates the necessary caution in the short term.
— CEO of Artemis Analytics, 2025
What are returning users doing with their assets on Solana?
According to Artemis Analytics, about 1.1 million old users have returned to activity with SOL in the most recent day. However, the weakening market sentiment indicates that this group tends to sell more than buy.
DeFiLlama data shows that over 91 million USD of SOL has been withdrawn from DeFi protocols on Solana, indicating cash flow exiting from staking or long-term positions toward short-term trading.
This trend also coincides with a decline in total value locked (TVL) on the network.
How do spot investors perceive opportunities from the drop in price?
In contrast to the group of users withdrawing funds, traders in the spot market have actively accumulated SOL, with over 16.55 million USD poured into buying SOL in the past two days, according to CoinGlass.
Additionally, Artemis reported that capital from Cross-Chain bridges flowing into Solana reached 114,000 USD, reflecting increased interest from investors in ecosystems outside Solana.
This phenomenon reflects the potential to increase liquidity and create momentum for SOL in the spot market.
Could the price of SOL break out in the near future?
Technical analysis on the 4-hour chart shows SOL is forming a symmetrical triangle, which is often a sign of an imminent breakout.
If the price breaks the triangle resistance, SOL could test the 158 USD range, and even rise to 168 USD if the upward momentum is well maintained.
The technical model shows significant breakout potential for SOL on the short-term chart, opening up the possibility for a strong price recovery.
— Cryptocurrency market analyst, TradingView, July 2025
Source: TradingView
What do the fluctuations of on-chain indicators and the Solana market signify?
The strong increase in active addresses and transactions indicates robust interest from users but does not necessarily translate into increased value for investors if large cash flows gradually exit the platform.
The data reflects polarized sentiment, where short-term players tend to take profits while spot investors actively accumulate with the expectation of positive market movements.
The key indicators of Solana are summarized in the table below:
Indicator Value Meaning Number of active addresses 14.63 million Strong increase, showing many users participating in trading Daily trading volume 3.75 billion USD (+12.74%) High activity but price not rising Cash flow withdrawn from DeFi (TVL reduction) 91 million USD withdrawn Warning for profit-taking investors Cash flow buying in the spot market 16.55 million USD Investors are actively holding, expecting recovery Cross-Chain capital flow into Solana 114 thousand USD Expanding liquidity and interest from other ecosystems
Frequently Asked Questions
1. What impact does the increase in active addresses on Solana have on the price of SOL?
The high number of addresses indicates significant interest from users, but it does not guarantee that SOL's price will rise immediately as cash flow may withdraw, according to 2025 data from Santiment.
2. Why is the cash flow withdrawal from DeFi on Solana noteworthy?
The outflow of cash indicates that investors are reducing long-term commitments and may sell to take profits or switch to short-term positions, negatively impacting TVL and SOL prices.
3. What is the current sentiment of spot investors towards SOL?
They see buying opportunities when prices drop and have actively accumulated SOL over the past two days, based on buying and selling data from CoinGlass and Artemis.
4. What does the current technical model of SOL signal?
The symmetrical triangle model indicates breakout potential; the price could retest the 158 USD range and move towards 168 USD if the upward momentum is maintained.
5. How does Cross-Chain capital flow affect Solana?
This influx of capital helps increase liquidity and expand the reach of SOL to investors from other ecosystems, enhancing the potential for price appreciation.
Source: https://tintucbitcoin.com/solana-tang-active-addresses-gia-sol-giam/
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