Solana prices struggle to flip the $ 150 to support – has the Sol Bull market ended?

Solana’s native token, Sol (Sol), faced with a sharp 8% decline after a brief handling of $ 147 on March 25. For the past three weeks, Sol struggled to recover the $ 150 level, leading the entrepreneurs to ask if the bullish momentum originally driven by the Memecoin -haka -haka -haka and the rise of artificial intelligence sectors ended.

Some analysts argue that Sol Price can significantly benefit from the final approved of a Solana spot Funds exchanged by the exchange .

Others, like Nikita Bier, co-founder of TBH and gas startups, believes Solana is “the main building blocks for something that will ruin the mobile.”

Bier featured the constructive regulation environment from US president Donald Trump and the long-term impact of Memecoin Frenzy, which introduced “millions” new users to Web3 Wallets and decentralized application (DAPPS). Essentially, Nikita Bier believes that Solana is properly positioned because of the streamlined onboarding experience for mobile users.

Bitcoin Reserve’s uninterrupted announcement hurt all cryptocurrencies

Despite the potential establishment of a “market-grade” market for dapps, most entrepreneurs suffered losses while Memecoin Mania faded and onchain volumes collapsed. This refusal led investors to ask if the SOL had the strength to recover the levels above $ 150. Beyond the missing interest in the Dapps, Solana was also facing growing competition from other blockchains.

In addition, the realization that the US government did not buy altcoins for strategic reserve and digital stockpile assets was a major failure for some investors. On March 6, President Trump signed a bill that allowed neutral budget techniques for the US Treasury to get Bitcoin (Btc), while altcoins in government ownership may be strategically sold. In fact, there is no clear mention of Solana or any other altcoin in the digital asset stockpile executive order.

Some may argue that the Solana ecosystem extends more than memecoin trading and token launchpads, as the total amount locked (TVL) has grown in liquid staking, collateralized lending, synthetic assets, and yield platforms. However, Solana’s fees and DAPP revenues continue to decrease. Decreased onchain activity reduces Sol’s appeal to investors, thus limiting its inverted potential.

Solana Dapp revenues cost $ 12 million in seven days leading until March 24, down from $ 23.7 million just two weeks before. Similarly, the base layer fees reached $ 3.6 million at the same time, a sharp fall from $ 6.6 million in seven days ending March 10. Notably, this denial occurred as the total amount locked (TVL) remained stable at 53.2 million sol.

Related: Specialized goal dexs poised for growth in 2025 – founder of curve

Solana is no longer dominant network in Dex volumes

The collapse of Solana’s Onchain activity was particularly about the given that the BNB chain advanced to the top area in DEX volumes, despite having 34% less TVL than Solana, according to Defillrama data.

In terms of volume, Solana is leading the DEX industry from October 2024 to February 2025 but recently lost land in the Ethereum and BNB chain. As a result, part of Sol’s price weakness comes from a decline in Solana’s onchain activity compared to its competitors. For example, for example, quantity of trade with hyperliquid increased by 35% over the past seven days, while Pendle’s activity advanced a wonderful -186%.

Although the grounds do not indicate an imminent rally above $ 150, the Solana network uniquely combines an integrated user experience with a level of decentralization that has been proven successfully. For example, while the BNB and Tron chain offers similar scalability, nor has the ranks of purse or DAPPs belonging to the top 10 in the Apple App Store – unlike Solana’s Phantom Wallet In November 2024.

This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.