Solana Foundation Manager Refutes ‘SOL Is Dead’ With Hard Data

In a recent post, a Solana Foundation manager dismissed claims that Solana (SOL) is dead. He shared fresh data showing vigorous network activity, solid developer growth, and rising investor interest. He shared this take even as the coin trades lower after a sharp monthly decline.

Solana Data Shows Strong Network Activity

A Solana Foundation manager, known as Vibhu, responded to online claims that the network has lost relevance. He shared several key figures that point to steady performance and growth. Over the past week, Solana users paid about $8.5 million in real fees to use the network.

Weekly spot trading on decentralized exchanges reached $29 billion. It has surpassed the total volume seen across the broader Ethereum ecosystem.

The network handled 540 million transactions, which is about three times more than all other major blockchains combined. The number of active users also remains high. Data shows 15 million weekly active wallets. This indicates that the network continues to attract a steady stream of users.

Apps built on Solana generated $23 million in revenue during the same period. This confirms that activity on the network is not only substantial but also financially significant.

Vibhu also highlighted that institutional demand is on the rise. SOL exchange-traded funds (ETFs) have seen new inflows, showing that more large investors are gaining exposure to the asset.

He said the inflows suggest a new group of long-term holders. These investors believe in Solana’s technology and its growing community.

The ecosystem also continues to expand. Thousands of developers joined through the recent Colosseum program, bringing new projects to the chain.

The Foundation expects continued growth in the near future. Teams are gearing up for Solana Breakpoint, the network’s yearly event known for unveiling new products and partnerships.

Anatoly Yakovenko Stresses Focus on Building

Anatoly Yakovenko, co-founder of Solana, joined the conversation by reminding the community to focus on what matters most: building. In a social media post, he wrote that the number one thing to focus on right now is shipping great products.

His comment came as debates around Solana’s recent price drop spread across social platforms. Yakovenko believes the network’s strength depends on what builders create. His message indicates that he has held this view for a long time.

He encouraged teams to focus on building useful products. Rather than chasing market trends, they should aim to attract real users to the blockchain.

Additionally, the upcoming Solana Breakpoint conference will provide builders with an opportunity to share updates and insights.

Projects like Alpenglow, as well as other emerging apps such as ORE, MetaDAO, Rush, and Soar, are expected to draw attention. These products show how new ideas continue to appear on the network, keeping it active and competitive.

Solana Price Faces Pressure but Outlook Remains Mixed

Solana is priced at $161 as of November 4, 2025. That’s about 8% lower than its value just 24 hours ago. The token has dropped 20% over the past week and 30% in the last month.

Earlier this year, Solana surged from about $105 in April to nearly $250 by late October. The recent drop comes after that strong rally. Market data indicate that Solana’s market capitalization is $88.59 billion and its 24-hour trading volume is $9.01 billion.

The circulating supply is 552.61 million SOL. While the price has weakened, Solana remains the sixth-largest cryptocurrency by market capitalization. Some market watchers believe the coin could retest lower levels before recovering.

New products and institutional demand could help the price rebound before the end of 2025. However, despite the drop, Solana still processes the most transactions of any blockchain and continues to record real usage.