📊 Solana’s active addresses per week has dropped from a high of 5.01M in early February, to just 2.89M in its most recent week. Fewer wallets are transferring $SOL, as the #7 market cap in crypto has been stagnating.

Conversely, the sentiment toward Solana has skyrocketed to its highest level since January. There are ~3.2 bullish comments for every 1 bearish comment across X, Reddit, Telegram, and other platforms right now. There is a growing narrative that the asset is primed for a breakout after trailing Bitcoin and other large caps, and regressing to the mean. Whether this turns out to be true will largely depend on the network utility pivoting from its current downfall.

🧐 Track how these Solana key metrics pan out here on this Santiment chart!