SOL struggles as Solana TVL slides and memecoin demand fades

SOL demand cools as its total value locked drops by $10 billion and memecoin trading slumps. Traders’ lack of appetite for long leverage could further complicate the situation.

Key takeaways:

SOL funding rates signal low bullish conviction after a 46% price drop, despite Firedancer’s launch and rising Solana network transactions.

Solana DApp revenues and DEX activity have weakened sharply, suggesting broader market fatigue even as Solana’s ecosystem grows.

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