Solana's native token, SOL, has experienced a 15.5% decline since reaching a peak of $209.80, its highest in over six months. This downturn has sparked concerns about a potential bearish reversal, yet several indicators suggest otherwise. Solana's position as the second-largest decentralized exchange (DEX) ecosystem remains strong, with $111.5 billion in 30-day trading volumes, surpassing Ethereum's layer-2 networks and BNB Chain. The total value locked (TVL) on Solana has increased by 20% over two months, reaching $12.1 billion, further solidifying its position over BNB Chain. Key decentralized applications like Kamino, Jito, and Raydium have each exceeded $2 billion in TVL, underscoring sustained demand for SOL. Network fees have also risen, with Solana generating $35.6 million over 30 days, marking a 22% increase. This growth highlights Solana's competitive edge, driven by low fees and a seamless user experience.