Solana News Update: Adrena Shifts to Maintenance Mode as Solana Ecosystem Focuses on Long-Term Sustainability Instead of Expansion
- Adrena, a Solana-based perpetual DEX, transitions to maintenance mode, reflecting ecosystem-wide focus on sustainability over rapid growth. - Solana's DEX volumes hit $5.11B on Nov 9, surpassing Ethereum and BNB Chain, as DeFi users prioritize passive yields over stablecoin exits. - SOL trades near $165 with mixed technical signals, facing key resistance at $172 and bearish reversal risks per Breakout Probability indicators. - U.S. spot ETFs (e.g., Bitwise BSOL) attract $342M in inflows since October, dr
Solana Ecosystem
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Solana's native asset (SOL) has recently exhibited mixed technical trends, hovering around $165 after reclaiming this price on November 9 following a period of consolidation. Although this movement coincided with a broader crypto market recovery—Bitcoin increased by 3% and
Despite these technical uncertainties, Solana's DEX infrastructure remains central to its expansion. Based on Defillama figures shared by community member Solanasensie, Solana DEXs saw $5.11 billion in daily trading volume on November 9, surpassing Ethereum's $3.8 billion and
Institutional trust in Solana has grown as well, fueled by the rollout of U.S. spot ETFs. Since their launch on October 28, offerings like Bitwise's BSOL and Grayscale's GSOL have drawn more than $342 million in total inflows, with BSOL alone accumulating $329 million in assets
Nevertheless, price trends remain a key concern for investors. SOL's struggle to break above the $172 resistance level has led to bearish technical formations, such as an inverse cup-and-handle pattern, which could signal a drop toward $96 if the $126 support fails
Adrena's move to maintenance mode mirrors a broader industry shift, as projects focus on long-term stability rather than rapid expansion. While this may mean slower innovation in Solana's perpetual DEX sector for now, it fits with the ecosystem's efforts to strengthen its foundation ahead of possible macroeconomic catalysts. With robust DEX activity and continued institutional investment, Solana's ability to manage short-term volatility will likely shape its path in the near future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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