Running out of SOL? You might want to think about what’s at stake

  • Solana’s transaction fees have fallen along with its development activity
  • Solana also lost interest from the stakers

Solana’s transaction fees have fallen over the past year, according to new data by token terminal. Apparently, after the collapse of FTX, $946,660 was collected in fees over the past 30 days. Of this amount, $473.33,000 was paid to SOL stakers, a number that has decreased by 41.3% over the past year.

This fall in income could therefore have a negative impact on FLOOR.

Lily At Solana’s [SOL] Price prediction 2023-2024

A lot in “game”

According Staking Rewards, the number of bettors on the network fell by 0.46% last month. As of December 3, there were over 577,000 stakers on the Solana network.

Source: Staking Rewards

Otherwise, Solanait is development activity decreased significantly toowith cryptographic protocols such as Cosmos [ATOM]Kusama and Uniswap [UNI] surpass it.

Solana’s NFTs to the rescue

In the midst of all the chaos, SolanaSaving grace has remained its growing NFT market. From the image below, it can be observed that the volume of Solana NFTs has increased significantly despite the bear market.

However, the overall Solana NFT floor price has fallen. Moreover, according to Solana floor, the number of NFT traders has increased from 16,000 to 1,800 in the last three months.

Only time is good if Solana will continue her NFT growth amidst all the external circumstances and FUD.

Source: floor solana

A Quick Look at SOL Data

Activity on FLOORit is network has massively decreased, as well as the number of network transactions. According to data from Dune analysisthe number of transactions on the network has fallen from 42 million to 25 million in the past four months.

Source: Dune Analysis

As of December 3, SOL was trading at $13.57, with its price rising by 0.20% between December 2 and 3. Additionally, its market cap dominance has dropped significantly over the past seven days, dropping 7.32%.. Lately, Solana captured 0.67% of global crypto market.

However, at press time, SOL has traded hands at $13.45 and is down 1.38% in the past 24 hours.

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