Key Insights
- •Solana sees rising onchain activity despite a sharp price decline.
- •Market analysts are watching the SOL price support near $125–$130 as momentum stays weak.
- •A new proposal aims to speed up disinflation and strengthen scarcity.
Solana onchain activity has increased during a time of heavy selling. Notably, wallet growth rose as the price moved near $126. Amid uncertainty in the price outlook, market watchers pointed to key support levels and a new inflation proposal that could shape the asset’s next move.
Onchain Growth Held Steady During Solana Price Decline
Solana onchain adoption continues to rise while the asset faced a sharp pullback. Data from Santiment showed more interacting addresses and steady growth in new wallets. The asset traded near $126 after a mild daily gain and held a weekly decline of 10.57%. Its value moved 49% below the September 17 peak. The circulating supply stood at 560 million tokens, giving the network a valuation of about $70.7 billion.
Activity across wallets helped create a contrast between market behavior and network use. Still, Santiment noted that participation increased at the same time the price weakened. This pattern suggests that some users added positions while broader conditions remained uncertain. Market analyst 0xBossman observed that Solana had fallen 51% during the month. The asset moved into a region that saw earlier reactions. He pointed to the $125 to $130 SOL price range as an area that traders often watch. His view described the zone as a place where some participants might consider entries, with a lower limit near $120. 0xBossman’s comments also described Solana as an asset that often reacts strongly once momentum builds.
Analysts Focus on $130 SOL Price Level
It is important to add that the short-term structure attracted close attention as the asset approached the $130 mark. Analyst Crypto Tony stated that several attempts to move above this level failed. His view held that a clean push over $130 could open a path toward $135 or $140. A rejection near $130 could lead the SOL price back toward $124. Selling pressure could also bring the asset closer to $120 if conditions weaken further. Meanwhile, the area around $130 has become a point of debate among traders. Some focused on chart levels, while others highlighted the increase in network use. Each side noted that momentum remains fragile as of writing. The mixed signals require patience as the market weighed behavior on both the network and the price chart.
Proposal to Speed Up Solana’s Disinflation Gains Attention
A fresh development appeared as Solana developers introduced an inflation reduction proposal. Helius co-founder 0xMert stated that the proposal is now active. The plan aimed to speed up the existing disinflation rate by two times. He noted that the approach did not rely on complex mechanisms.
Commentator CryptosRus described the update in strong terms. The platform stated that Solana is about to get a whole lot scarcer. The explanation outlined that the network would reach its 1.5% terminal inflation sooner. It was also noted that a faster schedule would reduce the number of new coins entering the market in the coming years. According to his assessment, emissions would fall earlier than expected. He added that the supply curve would tighten at a quicker pace compared with many major chains. His comments estimated that roughly 22 million future tokens could be removed from emissions. He believed that the reduction could limit potential selling pressure over time. This view placed attention on the long-term supply path, which now became part of the wider discussion.
The combination of rising onchain activity and the new proposal brought fresh interest to Solana’s outlook. Still, market participants continue to watch whether stronger network use supports near $125 to $130. Some believe that the planned supply adjustment might help shape a possible rebound in the coming period.