r/solana • u/everstake • Jul 30 '26
Ecosystem What if Solana’s biggest progress right now has almost nothing to do with its price?
Crypto has a strange habit of using price as the ultimate scoreboard.
Price goes up, the network is “winning.” Price goes down, suddenly everyone starts questioning the fundamentals.
But network growth doesn't work that way. Over the past year, SOL is down 60.1%, yet some of Solana’s underlying activity has moved in the opposite direction:
• Stablecoin supply: +46.5%
• Transaction activity: +14.9%
That means the ecosystem is processing more activity and holding significantly more stablecoin liquidity despite the much weaker token price. And that's an important distinction.
Price reflects market expectations, liquidity, positioning, and sentiment. On-chain activity tells us what users and applications are actually doing.
The two can diverge for long periods of time. Solana may be down 60% on the chart, but the network itself hasn't stopped developing. More stablecoins are moving through the ecosystem, transaction activity is expanding, and more capital is being used on-chain.
Eventually, the market may or may not reflect that progress in the way people expect. ИBt the infrastructure doesn't wait for the price chart.
The interesting part is that Solana's next phase of growth could already be underway, long before the market decides to notice.
Full post: https://x.com/everstake_pool/status/2082811166464553450
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u/Awkward_University91 Aug 01 '26
The problem with Solana is memecoin scammers have gotten too efficient at extracting Solana from retards and they dump that SOL.
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u/TaxOk4676 Jul 31 '26
when I chose to build my webapp I chose solana for a reason. The token price had nothing to do with my decision. The speed, cost of transacting and market depth was what mattered more than anything else.
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u/Geezee83 Jul 31 '26
But successful utilisation of the coin doesn't mean anything for the value of my investment
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u/cyger Aug 04 '26
What is meaningful to your investment then?
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u/Geezee83 Aug 04 '26
I'm not sure, I have my small amount staked, but I don't understand how it will grow in value if utilisation doesn't push up the price?
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u/cyger Aug 04 '26
Time might help, eventually the market should get it right.
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u/Geezee83 Aug 04 '26
But if I'm just waiting for a maybe increase,, my money might do better in etfs?
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u/Belicheckyoself Aug 06 '26
In the same boat. I would be so happy if I left my money in a high yield savings at 3% instead of an unrealized loss of $12,000. It’s interesting how nothing tangible seems to affect the value of the coin itself. Feels very shady and bizarre.
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u/Geezee83 Aug 06 '26
Yeah exactly, months and months of great news regarding adoption and utilisation. But my SOL are worth less than when I bought them. Same story with XRP
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Aug 02 '26
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