Solana’s key DeFi indicators showed signs of recovery in an otherwise under par February SOL’s high volatility kept investors on their toes According to an 18 February tweet by Kamino Finance, Solana’s [SOL] decentralized exchange (DEX) activity was better than other chains in 2023 if a particular metric was put into consideration. How much are […]
The chain’s daily DEX trading volume also showed signs of a rebound after it more than doubled at the time of writing, plunging to a monthly low on 11 February. Despite this, the cumulative weekly volume dropped by 2.3%, highlighting the stress Solana has been in February.SOL has come out of the FTX-induced negativity to a great extent in 2023. According to data from, the token locked gains of 112% since the start of 2023.
Data from Santiment complimented the above claim. The price volatility steadily increased over the past week, which placed the weighted sentiment in negative territory. High volatility could have prompted risk-averse traders to stay away from trading the coin.The transaction volume, which recorded a nearly 60% month-over-month drop, was a testament to the declining investor’s sentiment.Solana’s Open Interest steadily declined over the last 30 days, data from Coinalyze pointed out.
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