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Strong Support for Solana Among Developers, but SOL lagging

Solana has lost 9.5% of its value in just one day and is currently trading at $31.76. Using information from Coin Market Cap.

Photo by GuerrillaBuzz Blockchain PR Agency / Unsplash

Since the cryptocurrency markets have been struggling lately, the rubble has once more fallen on Solana [SOL]. Chairman of the Federal Reserve Jerome Powell’s most recent speech is one of the main causes of the most recent massacre.

Major cryptocurrencies lost support due to his comments, and SOL is one of the most difficult-to-hold assets.

Solana has lost 9.5% of its value in just one day and is currently trading at $31.76. Using information from Coin Market Cap, we can observe that this is the lowest position Solana has experienced since mid-July.

As previously mentioned, some traders anticipate that prices will once more test the $26 level due to the developing adverse sentiment for Solana. Some people also anticipate even greater price reductions.

However, the Solana ecosystem is showing some relief this week, with some unexpected winners. In the wake of the most recent devastation, some of these protocols have increased activity and token ownership.

What Keeps is Solana Ticking?

In a tweet, Solana News listed the top Daily Gainers throughout the Solana ecosystem. According to the report, Soldoge was the best-performing asset on Solana and came out on top.

We are back with our daily report of the largest gainers across the @solana ecosystem 📈!

Check out these hot projects below 👇! Who had them in their portfolio 👀?@SolanaDoge @KittyCoinSolana @SolAshera @Boxch_dApp @SunnyAggregator#Solana #SOL 26, 2022

The price of the SDOGE token increased by a startling 100.2% over the last day. It is followed by Kitty Coin Solana, whose token price increased by 24.5%.

Meanwhile, Solana Daily published information on holders' most popular Solana tokens. KIN continues to be the most popular token among its 6.74 million holders at the moment. Gari, which 1.88 million investors own, is next. They are followed by the GST and GMT tokens from Stepn, a Solana-based gaming company.

The emergence of familiar names as the top dApps on Solana at this time will excite the Solana community. With over 56.44K daily users, Gameta is reportedly once again the best-performing Solana-based dApp, according to Solana Daily.

With 28.8K and 4.7K daily users, respectively, Magic Eden and OpenSea, two well-known NFT markets, come in second and third.

The development activity indicator also displays these developments on the Solana network. According to Santiment, the network had been moving steadily but has recently experienced a slight decline.

This results in the development activity metric value being 9.24 at the time of publication, and it is not anticipated to increase until a stable market recovery.