- The Solana price prolongs its consolidation within the formation $91.5 to $76.5.
- On March 2nd, the U.S-based spot SOL ETFs recorded an inflow of $16.8 million.
- Daily active addresses on Solana have dropped significantly since early February.
SOL, the seventh largest cryptocurrency by market capitalization, is up 3.65% to reach $86.88. This uptick follows the footsteps of Bitcoin as its price hits a weekly high of $70,000 despite escaping geopolitical tensions. Despite the price jump, the Solana price witnessed notable decline in user activity across DeFI services, suggesting reduced conviction in
SOL Defies Weak Network Metrics With Sharp Price Recovery
The crypto market recorded heightened volatility since last week, amid escalating geopolitical tension in the middle east. Last week, a majority of major cryptocurrency experienced a significant decline which pushed their value to local support, but today, the bullish momentum replenished.
As a result, the Solana price rebounds from $77 to $86.6 accounting for a 12.34% gain. Consequently, the asset’s market cap bounced to $49.39 billion.
Contrary to price recovery, the number of active addresses on the Solana network has been declining since early February. Data suggest a reduction from about 6.53 million to present figures at or nearer to 3-4 million in daily/average numbers. This is a significant decline of about 40% or more from previous highs for some periods in the measurements.
The trend implies decreasing retail engagement, especially as the earlier memecoin-driven frenzy has cooled off resulting in reduced engagement of casual users despite Solana maintaining its top position among its peers in terms of daily transaction volume.
Similarly, there has also been a sharp contraction in total value locked (TVL) in Solana’s DeFi ecosystem from $13.2 billion in mid-September 2025 to current figures around $6.5-6.7 billion . This is equivalent to a decrease of about 49-50%. The decrease is mostly due to outflows in liquid staking protocols and general DeFi consolidation, as well as fading memecoin liquidity and capital moving to other opportunities or risk-off behavior in volatile markets.
These divergences point to a classic short-term disconnect; of price action fuelled by speculation, ETF inflows and macro sentiment, versus on-chain metrics pointing to a post-hype maturation phase with more sustainable usage patterns. Solana continues to shine in terms of raw throughput and adoption of stablecoins as well as constant high transaction counts and developer activity.
Key levels to Watch as Solana Price Coils In a Narrow Range
Over the past three, the Solana price has traded in a narrow range between $91.5 to $76.7 level. The sideways action, with swing on either side and no followup- indicates lack of initiation from buyers or sellers.
However, with today’s jump, the Solana price is trading at $85.75, just 5.3% away from challenging the pattern resistance. With sustained buying, the coin price could breach the pattern’s resistance trendline to escape the ongoing sideways trend.
The post-breakout rally may push the price to 8.8% higher to challenge its next significant resistance at $100.
On the contrary, if sellers force a breakdown below the bottom trendline of $76.7, the selling pressure will accelerate and drive a prolonged downtrend.
Also Read: Saylor Buys More Bitcoin, Schiff Flags Rising Losses
