Number of Solana Users Falls to Lowest in 2 Years

Solana’s active user base has been steadily decreasing, with the seven-day moving average falling to a recent low of 204,000 on August 31.

This decline is believed to be linked to the bankruptcy of crypto exchange FTX last November, as well as the Security and Exchange Commission (SEC) designating the Solana’s native digital token, SOL, as a security.

This news has resulted in the token being delisted on various US platforms, such as eToro and Robinhood.

As of now, SOL is priced around $20, down around 7% in the last seven days according to CoinGecko data.

The total value locked within the Solana platform is $311 million according to DefiLlama data, and it currently ranks tenth within the industry.