Analysis: Solana DApp revenue drops to an 18-month low, SOL price faces risk of retesting $80
ChainCatcher news, according to Cointelegraph, Solana ecosystem decentralized application revenue has dropped to an 18-month low, and SOL price faces the risk of retesting $80. Over the past three days, SOL has fallen 11% to $87, triggering $25 millions in long position liquidations.
The perpetual contract funding rate is close to 0%, indicating weak demand from longs, and in the past month, shorts have dominated leveraged demand. The options market delta skew has risen to 12%, with put options trading at a premium, showing that professional traders lack confidence in the $87 support level. Solana DApps revenue has dropped from $36 millions two months ago to $22 millions, marking an 18-month low.
Although Solana maintains its lead in DEX trading volume, it faces fierce competition from Hyperliquid in the perpetual contract trading sector, with the latter occupying over 80% of the market share.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pimco warns: 10-year US Treasury yield may hit 6%, for the first time since 2000
PIMCO's Chief Investment Officer stated that due to high oil prices intensifying inflation concerns and market unease over the growing U.S. public debt, the benchmark 10-year U.S. Treasury yield could rise to 6% for the first time since 2000.
Altcoin Rises 138% in One Month and Enters Top 20, What’s Behind the Rally? Here Are the Details
OpenAI's annualized revenue aims for $70 billions, with enterprise business as a driving force
According to sources familiar with the matter, OpenAI is expected to reach or exceed an annualized revenue of 7 billion dollars by the end of this year, mainly driven by the growth of its enterprise business.
Crypto prices
More
