Analysis: Solana DApp revenue falls to an 18-month low, and the price of SOL faces the risk of retesting $80.

PANews reported on March 20th, citing Cointelegraph, that decentralized application revenue in the Solana ecosystem has fallen to an 18-month low, and the price of SOL faces the risk of retesting $80. SOL has fallen 11% to $87 over the past three days, triggering the liquidation of $25 million in long positions. Perpetual contract funding rates are near 0%, indicating weak long demand, with shorts dominating leveraged demand over the past month. The options market delta skew has risen to 12%, with put options trading at a premium, showing a lack of confidence among professional traders in the $87 support level.

Solana DApps revenue fell to $22 million from $36 million two months ago, the lowest in 18 months. While Solana maintains its lead in DEX trading volume, it faces fierce competition from Hyperliquid in the perpetual contract trading space, which holds over 80% market share.