Despite a 9% decline in the price of Solana’s native token SOL from March 28 to April 4, key metrics reflect growth within the network. Solana maintains its second-place ranking in Total Value Locked (TVL) deposits and decentralized exchange (DEX) volumes, leading some traders to speculate on the potential for price recovery. A significant contributing factor to SOL's price drop was the unstaking of 1.79 million SOL on April 4. Nevertheless, Solana’s TVL reached a high not seen since June 2022, with deposits in its DApps totaling 53.8 million SOL—a 14% month-over-month increase—surpassing its nearest competitor, BNB Chain, by $780 million. Solana's market share in DEX volumes stands at 24%, significantly outperforming BNB Chain and other rivals. While challenges remain, including concerns regarding maximum extractable value (MEV), Solana's infrastructure growth and resilient user activity suggest a robust foundation despite recent price trends. As developers and users show increasing interest, the platform’s potential for future value may remain strong, though retesting previous highs near $200 seems uncertain for now.

Source 🔗