I’m noticing an interesting thing about Solana: in Q1, it processed 25.3 billion transactions, which is nearly $1.1 trillion in value movement. Fees remain stable at around $0.002 on average, and the network is generating about $1.9 million in daily revenue. This kind of on-chain activity is truly impressive, but the market still isn’t reflecting it in the price.



The issue is that SOL is still stuck in the $70-$90 consolidation range. At press time, it’s trading at $84.95, but it can’t break above $97 resistance. Both volume and capital flows are weak, which means buyers still aren’t fully convinced. Given how high the transaction volume is, why the price remains so stagnant is the biggest question for the market.

A breakout above resistance will bring back confidence; otherwise, there’s a chance it could drop further. Fundamentals are strong, but sentiment is still weak.
SOL-2.28%
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