$SOL

Solana (SOL) Recent Market Analysis: Pullback or Opportunity?

Solana's recent price has pulled back from a high of $207 to about $130, with a decline of over 35% in the past 30 days. The main reasons include the exhaustion of positive sentiment from popular on-chain projects like Jupiter and Wormhole, as well as overall market risk aversion due to uncertainty regarding the Federal Reserve's interest rate policies.

On-chain data highlights:

• Daily transaction count remains stable at over 40 million;

• SOL staking rate maintains at 66%, indicating that most users choose to hold long-term;

• USDC and USDT stablecoin inflows have rebounded, signaling a recovery.

A pullback poses risks but could also be an opportunity. Historical data shows that Solana experienced a 60% pullback in 2021, followed by a 4x increase.

Are you optimistic about this round of Sol's rebound? Feel free to comment.