Solana’s price holds steady above $74 amid news that its network led all major blockchains in active addresses over the past week. The surge in on-chain activity could be signaling growing user engagement despite the token’s restrained price movement.
Network Activity Surpasses Rivals
According to a recent update from Solana Hub, the blockchain recorded 18 million active addresses in the last seven days. This figure outpaced other significant players in the space, including BNB Chain, TRON, Bitcoin, and Ethereum. The ranking of active addresses is a trusted barometer of network vitality, reflecting increased demand for decentralized apps, transactions, and user participation.
TradingView data shows Solana hovering near $74.33, just below the Bollinger Bands midline, with resistance at around $78 and immediate support at $73. The trading volume has been subdued, pointing to a balanced tug-of-war between buyers and sellers. As a result, Solana’s price might trade sideways until a decisive breakout or drop occurs.
The disconnect between strong network activity and subdued price action mirrors trends seen across other altcoins amid cautious investor sentiment. While heavy on-chain usage doesn’t instantly boost prices, it tends to strengthen the long-term fundamentals of the blockchain.
Solana’s total value locked remains near $5 billion, according to DefiLlama, highlighting continued ecosystem engagement. This is reminiscent of the broader challenges altcoins face in converting technical and user growth into immediate market gains.
