The price of the cryptocurrency #Solana Update: A correction has begun in the cryptocurrency market. The price of Solana has dropped to $192 after exceeding $205, showing an increase of 18% in less than two days. Despite falling below the psychological mark, the asset outperformed the rest of the market.$SOL
Network activity is increasing
Over the past 30 days, the number of transactions in Solana has increased by 45%. Network fees during the same period increased by 45%. This indicates a growth in on-chain activity, which supports the asset's price Source: Nansen.
In comparison, the number of transactions in the BNB Chain network fell by 36% over the month.
Traders are showing caution
Data on perpetual futures on $SOL
showing cautious optimism. The funding rate is at 12% per annum — the boundary value between neutral and bullish sentiment.#solana #sol #memecoin🚀🚀🚀 