SOL’s price dropped 15% in under three weeks, falling from $122 to $104. Despite this decline, Solana generated $6.54 million in network revenue during the week of October 12-18, nearly double BNB Chain and capturing 38% of total blockchain revenue. Around 1.4 million addresses now hold tokenized stock products on Solana, a number that nearly tripled in recent weeks. Technical indicators show weakness with the RSI falling from above 80 in August to 38 currently, while the CMF dropped from 0.27 to -0.14, indicating capital outflows. Although SOL remains up approximately 70% since June, the price is failing to reflect the platform’s user and revenue growth.
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