SOL Price Drop To $75 Possible As DEX Volumes Plummet
Solana's SOL token faces potential price drops to $75 as DEX volumes decline, despite strong performance in high-revenue DApps.Summary
Solana's (SOL) price has experienced an 11% correction after being rejected at $93, testing the $80 support level. While SOL has lagged behind the broader crypto market, it still outperforms Ethereum in terms of high-revenue decentralized applications (DApps). However, declining network fees and plummeting decentralized exchange (DEX) volumes – reaching their lowest since September 2024 at $55.5 billion – raise concerns about a potential retest of the $75 level. Ethereum's layer-2 solutions are gaining dominance, increasing its DEX market share. Despite these challenges, Solana boasts 13 DApps generating over $1 million in revenue in the last 30 days, more than any other network, indicating a healthy ecosystem and continued investor interest. This suggests that a price retest of $75 isn't solely dependent on weak DEX volumes.
(Source：Cointelegraph)