Points
- Solana’s active users increased by 19% over the past seven days.
- Solana DApps volumes reached $703 million, a 12% increase.
- Futures market data shows balanced demand between long and short positions.
- The eight-hour funding rate for SOL turned negative, indicating higher leverage for short positions.
Recent data indicates that while Ethereum, BNB Chain, and Polygon saw a decrease in active users, Solana’s active users increased by 19% over the past seven days. Similarly, Solana DApps volumes reached $703 million during the same period, a 12% increase from the previous seven days. Meanwhile, market leader Ethereum faced a 37% decline in volumes.
Key Details About Solana
Analyzing the futures markets for SOL is essential. Perpetual contracts, also known as inverse swaps, include an embedded rate recalculated every eight hours. Essentially, a negative rate indicates that short positions （sellers） are using higher leverage.
Specifically for SOL, the eight-hour funding rate turned negative between July 5 and July 6, but the indicator is currently near zero, showing balanced demand between long positions （buyers） and short positions. While it’s impossible to determine what could restore investor confidence in SOL and push its price back to $160, data from on-chain and futures markets show no signs of stress.
