The value of Solana (SOL) continues to capture attention, with a strong 7% increase in a single day and an impressive 34% growth since the beginning of 2025. However, reaching a new all-time high (ATH) above $295 seems to require more time than expected.

Solana's Recent Price Surge and Challenges

While SOL's price increase is promising, on-chain data and other metrics indicate that momentum seems to be slowing. For example, network transaction fees have dropped by 67% to $11.7 million, and the number of daily active addresses has decreased from a peak of 16.5 million to 13 million. This raises concerns about the sustainability of the recent demand.

Solana is often linked to the memecoin hype, but its applications extend far beyond that. However, recent network activity appears to be driven mainly by short-term interest in memecoins, which leads to doubts about its long-term growth.

Dominance in Decentralized Exchanges

Despite the decrease in network activity, Solana maintains its strong position in the decentralized exchange (DEX) market. With a trading volume of $11.9 billion in a single day, Solana dominates this sector, far surpassing competitors like Ethereum and BNB Chain. These figures highlight the strength of Solana‘s ecosystem, even during periods of market shifts.

Solana: To Buy or Not to Buy? A Look Ahead

If you're wondering "Solana: to buy or not to buy?", it's crucial to understand the current market conditions. Solana has proven itself as a powerful network with strong performance, particularly in the DEX sector, making it an intriguing project.

For both beginners and experienced users, it's important to keep an eye on Solana's innovation. The network continues to develop and holds great potential for the future. Solana is a solid project worth watching closely.

Disclaimer: This is not financial advice. Make sure to conduct your own research before making any decisions.