Strykr Analysis
BearishStrykr Pulse 35/100. Network growth drowned out by sell pressure and security breaches. Threat Level 4/5.
Solana’s price action is a textbook case of market absurdity. Despite on-chain metrics showing rising activity, $SOL plunged to its lowest level since January 2024. The crypto market’s relentless selloff has overwhelmed fundamentals, pushing the token into oversold territory on the 1-day RSI.
The recent DeFi breach on Solana’s Step Finance, which wiped out $30 million and sent the $STEP token into an 80% freefall, added fuel to the fire. Traders are dumping tokens on fear and uncertainty, ignoring the network’s growing usage. This divergence is a red flag for traders expecting price to follow fundamentals.
Strykr Pulse 35/100. The disconnect between strong network data and price weakness signals a market dominated by panic and risk-off sentiment. Threat Level 4/5. Solana is a volatile play right now, and the next move will likely be dictated by broader crypto sentiment rather than on-chain strength.
Sources (5)
Solana price flashes a multi-year bearish pattern despite soaring network metrics
Solana price continued its strong downward trend and hit its lowest level since January 2024 as the crypto market crash intensified despite its strong
Solana: On-chain activity rises, but SOL isn't done falling – Here's why
The 1-day chart saw a bearish swing structure shift, and the RSI on this timeframe was in oversold territory.
Ripple CTO David Schwartz Denies Any Jeffrey Epstein Links to XRP or Stellar Networks
Executive confirms no evidence of meetings between Ripple, Stellar personnel and Epstein associates
We Asked 4 AIs: Will XRP Crumble Below $1 in February? The Answers Worried Us
XRP is already down by 30% from its peak this month.
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