On-chain data shows the Network Growth indicator has continued to fall for 
Solana recently, a sign that adoption of the asset has remained weak. Solana 
Network Growth Has Been Declining According to data from on-chain analytics 
firm Santiment, SOL&#8217;s recent price recovery has come despite a drop in the 
Network Growth. This metric measures the weekly total number of addresses that 
are coming online on the blockchain for the first time. A wallet comes 
&#8220;online&#8221; on the network when it participates in some kind of transfer 
activity. Thus, the wallets that the Network Growth is counting are the ones 
that are making their first transaction on the network. Related Reading: 
Bitcoin Risks Drop To $69,000 If Pennant Support Breaks, Analyst Warns When 
the value of the Network Growth is high, it means that a large number of 
addresses are being created on the blockchain. Such a trend can be a sign that 
an influx of users is occurring. On the other hand, the indicator being low 
suggests that there isn&#8217;t much new address generation taking place on the 
network, which can be a potential indication that the chain isn&#8217;t attracting 
fresh investors. Now, here is the chart shared by Santiment that shows the 
trend in the Solana Network Growth over the last couple of years: As displayed 
in the above graph, the Solana Network Growth has witnessed a drawdown 
recently, despite the fact that the SOL price has made some recovery since its 
December low. This suggests that the bullish price action has been unable to 
bring fresh attention to the cryptocurrency. Historically, rallies have 
generally needed the incoming of new investors to be sustainable, as it&#8217;s the 
increased trading activity that provides them with the fuel to go on. In the 
chart, Santiment has highlighted the case of a rally where this requirement 
wasn&#8217;t met. The Network Growth was initially at a significant level, but as 
this price surge from 2025 played out, the metric&#8217;s value plummeted. This 
could be a potential factor behind the rally eventually running out of 
momentum. In late 2024, the opposite conditions were present, as the Network 
Growth shot up alongside the Solana bull run, implying adoption backed the 
price appreciation. Considering these past cases, it&#8217;s possible that the 
indicator might have to reverse its trajectory if SOL&#8217;s recovery has to last. 
The latest downward move in the Network Growth is also not the only 
development SOL is dealing with right now. From the graph, it&#8217;s visible that 
the indicator has gone through a long-term downtrend since its high in 
November 2024. Related Reading: $460M Crypto Longs Squeezed As Bitcoin Slips 
Below $90,000 Back then, the metric had a value of 30.2 million, but today, 
the figure has dropped to just 7.3 million. It now remains to be seen whether 
the long decline in the adoption of Solana will continue or if a turnaround 
will appear. SOL Price Solana recovered back to $144 on Sunday, but the coin 
has retraced to open the week as its price is back at $139. Featured image 
from Dall-E, Santiment.net, chart from TradingView.com

Solana Price Jumps, But Network Adoption Remains Weak

Bitmine&#8217;s aggressive Ethereum accumulation could significantly influence 
market dynamics and staking economics, impacting crypto investment strategies.
The post Tom Lee&#8217;s Bitmine stakes $3.9 billion in Ethereum, hits nearly 70% of 
accumulation goal appeared first on Crypto Briefing.

Tom Lee’s Bitmine stakes $3.9 billion in Ethereum, hits nearly 70% of accumulation goal

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