Solana Price Breakdown Looms as On-Chain Metrics Drop by 20%
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Solana experienced a 7.5% price drop, falling from $164 to $151 during a low-volatility weekend. This decline is primarily attributed to a significant drop in on-chain metrics, including active and new addresses.
Despite Bitcoin showing sustainability above $60000, it remains uncertain if Solana's price will regain bullish momentum given the current on-chain activity trends.
Most major altcoins have also witnessed notable declines, further contributing to the bearish signals in the market for Solana.
Source: coingape.com ↗
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