Solana (SOL) emerged as one of the biggest losers of the recent market crash. Most assets in the cryptocurrency industry were seen drowning in bearish waters. The market was crumbling due to several external factors. Throughout the month of February, SOL was seen struggling. The asset failed to retain itself over the $200 zone bringing in signifcant losses for its investors. But with March around the corner, the community is betting big on the altcoin to reclaim $200.
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Can Solana Recover From Its Current State?
In the month of February, Solana witnessed a massive downfall of 46%. The asset was priced at a high of $240 during the beginning of the month. The asset soon dipped to a low of $132.49. SOL was one among the assets that suffered grave losses during the recent carnage. Over the past 24 hours, the altcoin dipped by nearly 14%. At the time of writing, Solana was trading at $135.48.
The Solana network appears to have been completely impacted. In addition to the general market downturn, the network was affecting SOL’s pricing. Recent statistics from well-known cryptocurrency analyst Ali Martinez show that Solana’s network activity decreased by 60%. From an all-time high of 18.5 million active addresses in October to just 7.3 million now, Martinez notes, this has drastically decreased.
#Solana $SOL network activity has declined by 60%, dropping from an all-time high of 18.5 million active addresses in October to just 7.3 million today! pic.twitter.com/Ml8s23EnH8
— Ali (@ali_charts) February 25, 2025
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How Will The Altcoin Kickstart The Month Of March?
Solana will indeed witness a major shift in its trend. The sixth largest cryptocurrency is expected to see a slight increase in its price. According to data from CoinCodex, Solana is slated to surge to a high of $144.69 on March 1. This marks a 6.56% surge from its current price level. During the last couple of days of this month, SOL will likely rise higher than its present price.
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