The crisis in the cryptocurrency market has severely impacted most projects. Some of them feel it particularly painfully, as they have fallen to levels lower than they presented before the start of the bull market in November. Among these tokens, unexpectedly, was Solana, which was doing excellently. Holders and analysts are looking for signals that would allow them to think about a return to growth. One key indicator has just set a new all-time record, but will it be enough to reverse the trend?
The Solana network with a record number of active addresses.
During the last bull market, Solana was a real hit. The altcoin set price records multiple times. The latest was established on January 19, when it reached a price of $294. At that time, it seemed to herald a new all-time high above $300. Meanwhile, it turned out that this was the last stage of the past bull market. From there, it only got worse.
At the time of writing, Solana costs $125, and in the last 24 hours, it has lost 2.71% of its value. Over the past week and month, the altcoin has dropped by 1.92% and 6.80%, respectively. Since the beginning of the SOL roll, it has lost 33.24%, which means that the token is worth less than before the start of the previous bull market. At the beginning of November, Solana was priced at around $166. In relation to the latest all-time high, it has fallen by nearly 58%.$SOL