Solana's high transaction volume masks user churn and price resistance

Solana maintains high transaction throughput, with daily transaction volumes of more than 2.7 million and handling fees below $0.01, although DeFi platform user retention has dropped by more than 15% in three months. Despite an average transaction fee drop of 30%, the total fee for the first eight months of 2025 still reached $85 million. SOL faces potential resistance between $120-130, which analysts see as macroeconomic pressure.