TechFlow News: On April 1, according to Cointelegraph, Solana’s native token SOL retreated approximately 11% after failing to break above $93 last Wednesday. Its recent performance has notably underperformed the broader cryptocurrency market, repeatedly testing the $80 support level. Meanwhile, Solana network fees have declined for two consecutive months, raising market concerns that SOL’s price could further retest the $75 level.
Additionally, Solana’s network fees dropped to $18.5 million in March—a 42% decline from $30 million in January—primarily driven by shrinking decentralized exchange (DEX) trading volume. Data shows Solana DEX trading volume fell to $55.5 billion, the lowest since September 2024. Solana’s current total value locked (TVL) stands at approximately $6.3 billion, still significantly trailing Ethereum’s $54.1 billion. However, Solana’s network fees over the past 30 days remain 80% higher, largely due to Ethereum lowering its mainnet fees via Layer 2 rollups and data blob mechanisms.
