📉 SOL, Solana's native token, has been feeling a bit under the weather, unable to break past $145 since July 3. But don't lose hope just yet! Despite a 7.8% dip, on-chain metrics and SOL’s derivatives hint at a possible comeback. 🚀

Solana's TVL (total value locked) is now neck and neck with BNB Chain, a first in history. Even though some Solana SPL tokens took a hit, SOL remains the fourth largest cryptocurrency, excluding stablecoins, with a $65 billion market cap.

Despite not being a top contender in DApps activity, Solana saw a 19% increase in users and a 12% rise in volumes over the past week. Meanwhile, Ethereum, the market leader, faced a 37% decline in volumes.

So, while SOL investors might be biting their nails, on-chain and derivatives metrics are chilling out, showing no signs of stress. Keep your eyes peeled for a potential bull run! 🐂