Solana sees 1.3 million users leave!
Can SOL withstand the pressure?
Crypto payment integration for Ethereum and Polygon blockchains.
During his keynote address, Collison emphasized that Stripe aims to significantly enhance the user experience by reintroducing cryptocurrency settlement.
This can have a positive impact on the Solana ecosystem. Stripe’s massive user base will be exposed to SOL, which could lead to a surge in the adoption and use of blockchain in transactions.
As of press time, the number of daily active addresses on the network has dwindled. After peaking at 2.4 million users on March 16, the number of daily active addresses dropped by 1.3 million.
Stripe’s recent moves may help SOL see increased activity in the future.
However, Solana continues to struggle in other areas. In the DeFi space, the TVL (total value locked) of blockchains continues to decline.
Additionally, DEX (decentralized exchange) trading volumes on the network have also declined. All of these factors suggest that users are losing interest in Solana’s DeFi products.
If Solana wants to maintain its upward momentum in adoption and activity, it will need to attract new users to its DeFi venture.
SOL is trading at $142.75 and its price has declined by 1.63% in the past 24 hours. Social traffic around SOL has also dropped in recent days, suggesting the network's popularity is declining.
SOL will rise to 159 positions in the short term.
Additionally, weighted sentiment surrounding the SOL token has also declined, indicating that negative comments are on the rise.
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