Solana trades at $104.27 on Friday evening, 1.0 percent below the previous day. The figure alone explains little. What happens beneath the price is more interesting: the capital locked on the Solana blockchain has fallen by $670 million to $5.94 billion since the monthly high of October 5, while trading volume gave up only 4 percent. Network fees fell 15.2 percent over the same period, almost four times as fast as trading. Where the price can point on a horizon of months is set out in our Solana forecast.
This divergence is the real finding of the week, because it says something about who is still active on Solana and who has already pulled their money out. For investors in Europe, three concrete decisions hang on it: whether buying more fits this situation, whether staked SOL is sitting in the right place, and which levels justify entering at all.
Locked capital: $670 million less since October 5
Locked capital, known in the industry as total value locked or TVL, is the sum of all funds users have deposited into a blockchain's applications: into lending protocols, into trading platforms, into liquidity pools. The metric measu...
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