- Solana did not benefit from airdrops on its DEX as activity on the network fell.
- Interest in the Solana NFT sector also declined, impacting the overall ecosystem.
Solanas [SOL] ecosystem has received a lot of attention in recent months. One of the main reasons for this was the popularity of the DEXes (Decentralized Exchanges) on the network.
To take advantage of this opportunity, Jupiter declared a air drop for his tokens.
While token airdrops typically attract users to networks in the days or weeks leading up to launch, a similar trend was not observed on the Solana network.
Still a long way to go
According to Artemis data, Solana’s daily active addresses have fallen from 1.17 million to 920,000 in recent days. The total number of transactions on the network also showed a decrease.
A decrease in the number of active addresses may indicate declining interest or involvement in the network.
Lower levels of user activity and transactions could undermine Solana’s position in the broader crypto space, potentially affecting investor confidence and the overall growth of the network’s ecosystem.
Source: Artemis
Additionally, Solana’s NFT sector also failed to gain traction.
Over the past month, the Solana NFT blue chip index, which tracks the most prominent NFTs on Solana, witnessed a dip in interest and stood at 3715,581 at the time of writing.
This could have negative consequences for Solana’s overall ecosystem and market position in the future.
Source: Solanafloor
How much are 1,10,100 SOLs worth today?
State SOL
The SOL token also did not perform well during this period. In the last 24 hours, the total price of SOL has fallen by 2.11%. At the time of writing, the price was trading at $101.
Furthermore, SOL’s trading volume has fallen from 5.78 billion to 2.81 billion in recent weeks.
Source: Santiment