by Vincent Muthee
The price of Solana (SOL) recently slipped from $160 to $144, before making a slight rebound. Solana’s price dip is majorly fueled by the rising tensions between Israel and Iran, a factor that has dragged on the risk-on assets, such as cryptocurrencies. However, the current price action of SOL is testing a crucial support area.
But despite the recent price drop, the Solana network has continued to claim the title of the most used blockchain by a significant margin. The network dominates other chains in terms of daily users and transaction volume.
Solana Outpaces All Competitors in Network Activity
Solana’s on-chain activity is strong despite the recent price drop. For instance, data by Artemis shows that user participation has gone up by 43.4% with daily active addresses exploding to 5.8 million. This feat positions Solana far above other rivals like Near Protocol with 2.9 million and Ethereum with 495.1K addresses.
Other networks such as Polygon PoS and Sui are even further behind, with both experiencing significant drops in users. Polygon Pos has a total of 518.6K active addresses while Sui has 395.3K users.
However, Solana does not dominate in terms of active addresses only. The network registered 99.5 million daily transactions. This marks a 16.1% surge in daily transactions on the Solana network.
Aptos, on the other hand, recorded a 43.8%, in daily transactions, though it only reached 1.1 million transactions per day. Additionally, Avalanche was the top gainer in percentage with a 198.3% increase but with a much lower base.
These figures showcase just how much of a center of real-world blockchain activity Solana has become. Other chains are stagnating or growing at a slow pace, meanwhile Solana is showing unparalleled consistency in user retention and activity facilitation. It also seems to have well-integrated infrastructure with numerous decentralized apps and platforms, which adds to its solid position.
Solana’s Monthly Active Users Rebounds After Q1 Dip
The monthly Solana user data has also indicated great recovery. In May 2025, month active users recovered to 134.73 million, according to a report by DeFi Dev Corp. This is almost twice the low of Q1 at 80 million users, after a steep decline off the November 2024 high of 160 million users.
Solana Monthly Active Users is pushing to an all-time high, and you're bearish on $SOL?
NGMI. pic.twitter.com/099ejpCJkh
— DeFi Dev Corp. (@defidevcorp) June 13, 2025
The rebound shows a new wave of activity and involvement in the Solana network. This might have been caused by an upgrade of the ecosystem or a new interest from developers and users.
With a rebound in Solana’s monthly users, this indicates a structural advantage for the network. Not many other blockchains are able to recover lost users following significant corrections. The fact that Solana can do it makes it relevant in the long term and hints at the long-term interest of developers and users.
SOL Price Approaches Key Technical Area
In terms of price, Solana (SOL) is trading at $145.51, which is towards the embattled $140 -$150 support level. This level served as a resistance area earlier in April and has since turned into a key support zone. Following a sharp recovery between $95 and $195 in early May, SOL has faced multiple rejection at $195, which has now created a defined ceiling to bulls.
The recent decline, caused in major part by the concerns about the Israel-Iran conflict, has forced SOL into a consolidating trend. Should Solana fall below the $140 support, traders are alert to the possibility of a change of market structure. This renders the prevailing price level as an important inflection point in the short term.
Looking ahead, the future of Solana might depend on whether the high network activity will finally lead to a new period of bullish sentiment. The existing disconnection between network usage and price raises concern over investor sentiment. While transaction data shows resilience, speculative forces might control the short-term price of Solana.
#blockchain #crypto, #decentralized, #distributed, #ledger
