Solana Matches All Other Chains Combined in Monthly Active Users, Artemis Data Shows
Solana (SOL) experienced a slight dip, decreasing by 1.45% within a 24-hour period, moving from $151.41 to $149.21 between July 6th, 19:00 UTC, and July 7th, 18:00 UTC. This decline aligns with a broader market trend, as reflected in the CoinDesk 20 Index (CD20)’s 0.56% decrease over the same timeframe. Trading activity showed a significant range of $4.58, peaking at $153.67 before a notable sell-off pushed the price below the crucial $150 psychological level. However, increased trading volume near the session low indicated buying interest around the $149 support level, leading to a minor recovery to $149.31 by the period’s end.
Despite this short-term price weakness, Solana’s network strength is demonstrably growing. June 2025 witnessed Solana matching the combined monthly active addresses of all other Layer-1 and Layer-2 blockchains, according to Artemis data. This user growth is coupled with record-breaking network revenue; Solana generated over $271 million in Q2 2025, marking its third consecutive quarter leading all chains in this metric, as reported by Blockworks. This revenue, consisting of transaction fees and tips, underlines the robustness of Solana’s ecosystem and fee model.
Technical analysis reveals further insights. A significant resistance formed at $153.67, followed by a volume spike of 925,497 SOL. Subsequently, a decisive break below $150 with heavy volume confirmed bearish short-term sentiment. A sharp sell-off between 18:16 and 18:17 UTC on July 7th saw a price drop to $149.42 on a volume exceeding 57,000 tokens. However, buyers stepped in to defend the $149 support zone, resulting in a 0.37% rebound from the session low.
The combination of strong on-chain metrics and substantial network revenue suggests that Solana’s long-term value proposition remains intact despite short-term price fluctuations. The sustained growth in user activity and economic throughput positions Solana as a key player in the blockchain space.
