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Solana Price Breakdown Looms as On-Chain Metrics Drop by 20%

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Summary
Nutrition label

65% Informative

Solana price dropped from $164 to $151 on a low-volatility weekend, registering a 7.5% loss.

This pullback can be attributed to a significant decline in classic on-chain activity, including active and new addresses.

The number of new addresses engaging with the network decreased from 1.27 million on August 1st to 980.68k, reflecting a 22.79% reduction.

The average Directional Index (ADX) below 25% suggests that sellers are losing their grip on this asset.

VR Score

46

Informative language

34

Neutral language

46

Article tone

formal

Language

English

Language complexity

49

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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