The Solana network experienced a significant drop in activity in August, with non-vote transactions falling nearly 63% from July's levels.
This marks the lowest transaction count it has seen since September 2023.
Despite this decline, there could be positive developments on the horizon. With the upcoming U.S. Federal Reserve rate decision in mid-September, a potential rate cut could boost liquidity across markets. Solana might be well-positioned to benefit from this shift.
Key projects on the network, such as $JUP $JTO $KMNO, are attracting attention which would be favorable for Solana holders.
Additionally, decentralized exchange (DEX) activity on Solana is expected to remain robust, possibly supporting a price increase. While Solanaâs price recently dipped by 2%, trading at $130.68, ongoing developments and improving market conditions suggest that the network could see a turnaround soon.
REMEMBER! Always watch $BTC price closely.
