4th September, 2024, Wyoming
Is Solana (SOL) in a rough patch? SOL network transactions dropped to a multi-month in several months in August. Non-vote transactions dropped to almost 63% of its highest level recorded in July at 1.31 billion to 485.61 million. The mark is the lowest since September 2023.
What’s behind the dip? Some analysts believe it is a temporal slowdown, while others see a big problem.
But here’s the twist: Even if the U. S. Federal Reserve lowers rates in September, Solana may prevail says analysts.
Automated trading can only increase the coin’s liquidity, which might be enough to put SOL above Bitcoin and Ethereum.
Solana’s price has been lowering in the recent past. Likewise, key projects are striking, such as Solayer’s new staking window. This could attract more invested funds and therefore influence the Solana token’s value. Also, the DEX on Solana is expected to remain volatile. This creates the potential for Solana to experience a price hike in September.
But do not forget about unpredictability: the crypto game. It’s a rollercoaster that is best to watch from the sidelines. Watch this space because Solana could well turn the tables around.
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