"Transaction Volume on the Solana Network Decreased by 50%, What are the Market Effects?"

Recently, while the Solana (SOL) price has shown a continuous increase, the number of transactions on the network has sharply declined, drawing the attention of investors. According to CryptoQuant data, the daily transaction count on the network, which was approximately 125 million on July 24, 2025, has decreased to around 64 million today, marking a %50 reduction. This situation raises various concerns about the sustainability of price increases.

Although the price has shown a sharp rise during this period, this negative divergence in network usage is considered a significant signal of unhealthy momentum in the market. Expert analysts emphasize that price increases in a healthy market structure must be supported by actual user activities. However, this situation on the Solana network raises concerns that the recent price surge has been shaped more by market sentiment and speculative movements.

The analysis of transaction types is also critical at this point. In a CryptoQuant review, it is noted that a large portion (%80-90) of transactions on the Solana network are identified as voting transactions. Therefore, understanding whether the %50 drop in total transaction count stems solely from a decline in user activities (such as Decentralized Finance (DeFi), NFTs, money transfers, etc.) or from changes in the voting mechanism is of great importance.

If the drop in transaction count is directly due to a reduction in user activities, this could be worrying for the sustainability of the current rise in Solana prices, and there may be a risk of a potential correction. Investors are advised to closely monitor this process and evaluate market dynamics.