Solana (Sol) appeared as one of the biggest losers of the recent market crash. Most assets in the cryptocurrency industry were seen drowning in bearish seas. The market was falling apart due to several external factors. Throughout February, Sol was seen struggling. The asset failed to hold itself in a $200 zone that would cause significant losses to investors. But as March is rounding the corner, the community is making a big bet on Altcoin to get back $200.
Can Solana recover from her current state?
In February, Solana witnessed a major downfall of 46%. The asset was on sale at a high of $240 at the beginning of the month. The assets quickly fell to a low of $132.49. Sol was one of the assets that suffered significant losses during the recent massacre. Over the past 24 hours, Altcoin has been soaked almost 14%. At the time of writing, Solana was trading at $135.48.
The Solana network appears to have been completely affected. In addition to the general market slump, the network was affecting Sol’s pricing. Recent statistics from well-known cryptocurrency analyst Ali Martinez show that Solana’s network activity has declined by 60%. From an all-time high of 18.5 million active addresses in October and just 7.3 million active addresses, he said this is a massive decline.
#solana $ sol Network activity fell 60%, down 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
How does Altcoin kickstart the month of March?
Solana certainly witnesses a major change in that trend. The sixth largest cryptocurrency is expected to see a slight rise in prices. According to Concodex data, Solana is expected to surge to a high of $144.69 on March 1st. This indicates a surge of 6.56% from current price levels. For the last few days of the month, Sol could be higher than its current price.
(TagStoTranslate) Crypto(T) Cryptocurrency(T) Sol(T) Solana
