Solana TVL hits $8.6B six-month lows: Is $80 SOL price next?
Solana's Total Value Locked dropped to a six-month low of $8.67 billion, coinciding with declining network activity and a bearish technical pattern targeting lower prices.Summary
Solana's Total Value Locked (TVL) fell over 34% to $8.67 billion, reaching a six-month low last seen in June, with Jito liquid staking, Jupiter DEX, Raydium, and Sanctum protocol leading the decline among decentralized applications. This drop in TVL mirrors bearish sentiment in Solana-based memecoins, whose weekly trading volume has collapsed by 95% from its peak in January. Furthermore, on-chain metrics like network fees, active addresses, and transaction counts have all decreased over the last seven days, suggesting reduced demand for SOL. Technically, SOL is trading below a bearish pennant pattern, which projects a potential price target of $86, although intermediate support might be found around $118 (the 200-week EMA) or $95-$100.
(Source：Cointelegraph)