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Solana 
$125 (SOL) has experienced a notable drop in value, decreasing by 9.3% over the past 24 hours to approximately $166. The sudden activity in the Solana-based LIBRA meme coin has triggered selling pressure across the broader market. With a sharp decline in active addresses and transaction volumes, the prevailing uncertainty in the market has led to a cautious approach among traders.
Reduced Activity on Solana Network
Crypto analyst Ali Martinez reported a decrease in active addresses on the Solana network, from 18.5 million in November to just 8.4 million today—a staggering drop of about 55%. Furthermore, the total transfer volume has plummeted from $2 billion in November to merely $26 million. Such a massive loss in volume is weakening Solana’s position in the market, increasing the likelihood of further price drops.
Market analysts note that Solana’s price movements typically align with post-peak decline patterns. Experts from IncomeSharks suggest that the current price action reflects a significant loss of momentum.
Token Supply Increases, Price Under Threat
With the upcoming token unlock on March 1, millions of new SOL tokens are set to enter the market. Currently holding a 4.715% inflation rate, Solana is expected to face supply pressure following this release, with an estimated 15 million tokens potentially circulating. Crypto trader RunnerXBT emphasizes the risk associated with investing in Solana at these price levels, urging caution among investors.
There has also been a noticeable increase in liquidation rates in futures trading. Rising liquidations and the breach of price support could indicate lower levels ahead. Analysts believe these factors compel traders to monitor the market more closely.
