Examining the activity in the weekly chart, the number of active addresses on the SOL network reached a high of 5.01 million in early February. However, this figure has now fallen to about 2.89 million in its most recent week.
Such a drop in active addresses triggers questions about the current price structure. Fewer wallet addresses are steadily transferring SOL, possibly for a sell-off, as the asset, which is presently number 7 in the crypto market, has been experiencing price stagnation.
Santiment has also outlined a significant shift in sentiment across the community toward Solana to a multi-month high. At the time of the post, the sentiment, particularly on social media platforms, toward SOL had skyrocketed to its highest level since January. After the surge, there are now 3.2 bullish comments for every 1 bearish comment across X, Reddit, Telegram, and other platforms.
Why SOL Is Getting Quieter
