Solana Loses Value Despite Rising Network Activity

Solana's native token SOL dropped to $100.30 on Saturday, its lowest since April 2025, after an 18% 30-day correction and $165 million in liquidations amid broader market weakness. Despite the price decline, onchain activity surged: network fees jumped 81%, active addresses rose 62%, and transactions reached 2.29 billion, consolidating Solana’s DApp leadership. Annualized funding rates plunged to -17%, reflecting extreme bearish leverage.