Solana’s price slumps, yet traders scoop $27M in SOL – WHY?

• The volume and transaction activity on the chain has reached new maximum, but Sol Price is still decreasing.
• Participants in the Spot and Futures market are still active and buy more sol.

Over the past 24 hours, Solan [SOL] It dropped by 3.5% to $ 150.67, which meant a reversal of its 6.15% weekly rally, at the time of the press.

Market analysis reveals divergence between the on-seminate sentiment and the activity of off-alcohol. While one segment leans, the other controls the pressure on the purchase.

Ambrpto examines this abyss.

Activity on the chain is rising-is it good?

The activity on the chain has seen a significant increase, with more users interacting in the network.

According to NansenTotal transactions to Blockchain Solana have increased by 35%over the last 30 days and reached approximately 2 billion.

This increase in the number of transactions was associated with a remarkable increase in volume on the chain.

Data from Defill It shows that the total volume traded in the last month has reached $ 61.513 billion. In the last 24 hours, the volume of trading was $ 2.078 billion.

With this performance, Solana is currently ranked second in trading in the intelligent Binance – Behind Binance chain – he disrespects Ethereum, Base and Sui.

Usually high volumes and increased transactions reflect strong market interest and sentiment. But in this case, this trend does not match expectations.

Users terminate and add prices to fall

Despite the increase in activity, active solana users have dropped. According to Artemis, the number of active users dropped to 22 million – last seen in early May.

This user decreases, occurring together with falling prices and rising volume, indicating that part of the market is sold.

Such behavior suggests declining confidence in the potential of SOL for a jump. The continuing began before the last price drop.

Others see the opportunity in Sol’s dip

While the chain data suggests that some are sold, the off-position indicators on the spot and the futures markets reflect the growing bull sentiment.

At the time of printing, investors buy Sol or hold long positions in anticipation of the assembly.

During the last two days the buyer has re -entered the market after the sale period Coinglass data.

In the last 24 hours, Sol worth $ 27.5 million has moved from stock exchanges to private wallets.

If this trend continues, it could reduce exchange reserves and increase demand – usually push the price of Sol higher.

Likewise, the derivative activity increased sharply over the same period. The open interest rate Dear Funding-Metrika, which reflects market bias in eternal futures, signaled at the time of writing a trend controlled by the buyer.

The rate was positive 0.0025%, suggesting that long contracts exceed shorts and indicate that the market could prefer buyers.