Solana Market Cap Down 49% From September Peak as Network Activity Climbs

Solana's market capitalization has fallen approximately 49% since reaching $253 on September 18, trading at $125.94 as of November 22. On-chain data show rising address activity and new wallet creation, indicating a potential bullish divergence from the declining price trend. The Bitwise Solana Staking ETF surpassed $500 million in assets under management within 18 days of trading.