Solana (SOL): Strong Ecosystem but Facing Networking and Adoption Challenges
Solana (SOL) remains a favorite for decentralized applications (dApps) and NFTs due to its fast and cost-effective blockchain infrastructure. The token is currently trading at 197.63 USDT after rallying 13%. However, Solana faces challenges, including repeated network outages and a 1.1 billion USDT drop in Total Value Locked (TVL) this month.
Despite recent struggles, Solana has shown resilience, rallying 73% over the past year. Analysts predict that a break above the 210 USDT resistance level could fuel further upside, with potential near-term targets of 230 USDT. Broader market trends, including a potential altcoin season, could also boost Solana’s performance. However, reduced exchange activity and declining daily network engagement remain concerns for the ecosystem’s long-term stability.
