Will Solana [SOL] holders see gloomy days ahead despite…

ambcrypto.com:

Solana is gearing up for what appears to be a rare bearish day in the crypto market. The recovery of asset prices has been a common theme since mid-July.

But traders’ confidence has been flickering following the U.S. inflation news. Solana appears to have taken the brunt more than others.

The SOL token is the worst affected among the top 10 cryptocurrencies according to CoinMarketCap. At press time, SOL was trading at $39.8 after dropping by 3.71% in the past 24 hours.

This shift effectively diminished the weekly gains of the token at press time.

Furthermore, according to data collected by Lunar Crush, the general sentiment around trading SOL has changed in its favor.

Around 25% of people are in favor of HODLing Solana while approximately 65% intend to buy it.

Only 6% of people are looking to offload the asset according to a Lunar Crush poll.

The poll also signaled at a falling social dominance metric which was down by 28.4% week-on-week. However, social engagements have increased dramatically by 111% while social mentions have shown a 26.9% increase.

Source: Solana News

In another ecosystem update, Solana tracked the most traded NFT collections recently. It conveyed that Rakkudos led the chart with a weekly volume of over $2.9 million. Vandal City and Degods collected $0.75 million each during this period.

Presenting the top NFT collections by weekly sales volumes