#Cryptotrend2025

#bitcoin #MarketPullback #BullRunAhead

4 reasons why #Solana (SOL) price could rally back to $180

Solana price has been in a slump, but the factors keeping SOL down are endemic to the entire crypto market. Will a rising tide lift all boats?

Solana native token, SOL 

SOL

$125.58

, is up by 17% after falling to a low of $125 on Feb. 28. However, it encountered strong resistance near the $180 mark. More significantly, the current price of $145 represents a 50% decline from its all-time high of $295 on Jan. 19, raising concerns among traders about SOL's ability to regain bullish momentum.

While analysts attribute the sharp decline in SOL's value to the memcion market crash, onchain activity has declined across various sectors, including liquid staking, tokenized assets, yield aggregators, synthetic perpetuals, NFT marketplaces, and artificial intelligence infrastructure.

Decreased blockchain activity suggests a reduced appetite for SOL, with Solana network fees dropping by 73% compared to four weeks ago, according to DefiLlama data. While the surge in activity was largely driven by memecoin token launches and decentralized exchange (DEX) trading, the result of SOL's fading momentum remains the same. 

The number of active addresses interacting with Jito, Solana’s largest liquid staking decentralized application, fell by 56% over the past 30 days, as per DappRadar data. Similarly, the NFT marketplace Magic Eden saw a 38% decrease in active addresses, while Save (formerly Solend), which offers collateralized lending, experienced a 42% drop in users over the same period

In comparison, the number of active addresses on Base, the Ethereum layer-2 blockchain, declined by just 2% over the same period. Even Ethereum’s base layer outperformed Solana, with the number of addresses engaging with DApps dropping by 17% over 30 days. This suggests that attributing SOL’s underperformance solely to the memecoin bubble burst is less plausible, as other networks did not experience a similar outcome.