Points
- Solana’s active users surged by 19% over the last week.
- Solana DApps volume reached $703 million, a 12% increase from the previous week.
- Raydium, Solana’s decentralized exchange, saw a 39% increase in activity.
- Futures market data indicates balanced demand between long and short positions.
In the realm of decentralized applications （DApps）, Solana recently lagged behind its competitors. Yet, data from the past week shows noteworthy progress, even as many rivals experience declines. Over the last seven days, Solana’s active users surged by 19%, while Ethereum, BNB Chain, and Polygon saw decreases.
Additionally, the volume of Solana DApps reached $703 million, marking a 12% increase from the previous week. In contrast, Ethereum experienced a 37% drop in volumes. Solana’s decentralized exchange, Raydium, reported a 39% increase in activity, amassing 1.71 million active addresses compared to BNB Chain’s leading DApp Move Stake, which had 198,570 active addresses.
What Do Futures Markets Reveal?
Analyzing the futures markets for SOL is crucial. Perpetual contracts, or inverse swaps, feature an embedded rate recalculated every eight hours. A negative rate generally means short positions （sellers） are using higher leverage. For SOL, the eight-hour funding rate turned negative between July 5 and July 6. However, the current indicator is near zero, indicating balanced demand between long （buyers） and short positions.
Actionable Insights
- Solana’s user activity is rising even as competitors face declines.
- DApp volumes on Solana increased significantly over the past week.
- Raydium’s performance suggests robust engagement within Solana’s ecosystem.
- Futures market data indicates balanced demand, hinting at potential stability.