$SOL has been trading sideways around $100 for a few days, so I took a look at its on-chain data to see how it’s doing.
First, the price: SOL is currently around 101.55 on Kraken, with an open of 102.24 today, a 24-hour low of 98.51, and a high of 102.64. Over the past 7 days, 4-hour closes have ranged from 99.66 to 108.40. The chart shows a steady pullback after the spike on October 22, with support around 99.7 this morning.
A few on-chain metrics:
1. DEX volume on Solana was about $1.73 billion over 24 hours, up 38% week over week. The price hasn’t risen, but trading activity is picking up.
2. On-chain stablecoins totaled about $15.85 billion, up slightly by around $20 million from 7 days ago, so funds haven’t withdrawn.
3. On-chain TVL was about $5.77 billion, roughly 2% below the $5.90 billion a week ago.
Catalysts: The Alpenglow consensus upgrade went live on October 21, aiming to cut finality to around 150 milliseconds. Tokenized stocks have also launched on the chain. Starting November 11, about 397,000 SOL in staking rewards will unlock each week—a known source of supply.
Risks: Watch the 98.5–99.7 range, which includes the recent low. A break below it could lead to a test of lower levels. The 104–108 range above is a previous high-volume area, where a rebound could run into selling pressure. Rising macro yields and ETF outflows could also weigh on the price.
My take: Higher trading activity alongside declining TVL suggests short-term speculation rather than a trend. Do you pay more attention to trading volume or TVL?
#Solana #链上数据 #Crypto
This is not investment advice. Please assess the risks for yourself.
First, the price: SOL is currently around 101.55 on Kraken, with an open of 102.24 today, a 24-hour low of 98.51, and a high of 102.64. Over the past 7 days, 4-hour closes have ranged from 99.66 to 108.40. The chart shows a steady pullback after the spike on October 22, with support around 99.7 this morning.
A few on-chain metrics:
1. DEX volume on Solana was about $1.73 billion over 24 hours, up 38% week over week. The price hasn’t risen, but trading activity is picking up.
2. On-chain stablecoins totaled about $15.85 billion, up slightly by around $20 million from 7 days ago, so funds haven’t withdrawn.
3. On-chain TVL was about $5.77 billion, roughly 2% below the $5.90 billion a week ago.
Catalysts: The Alpenglow consensus upgrade went live on October 21, aiming to cut finality to around 150 milliseconds. Tokenized stocks have also launched on the chain. Starting November 11, about 397,000 SOL in staking rewards will unlock each week—a known source of supply.
Risks: Watch the 98.5–99.7 range, which includes the recent low. A break below it could lead to a test of lower levels. The 104–108 range above is a previous high-volume area, where a rebound could run into selling pressure. Rising macro yields and ETF outflows could also weigh on the price.
My take: Higher trading activity alongside declining TVL suggests short-term speculation rather than a trend. Do you pay more attention to trading volume or TVL?
#Solana #链上数据 #Crypto
This is not investment advice. Please assess the risks for yourself.