Solana Price Hit by Decline in Active Wallet Holders

Solana's price has been impacted by a moderate decline in active wallet holders over the past two weeks, causing it to dip below key longer-term moving averages.

The number of wallets holding at least 0.1 SOL dropped from 11.84 million to 11.26 million, a decrease of nearly 600,000 wallets.

This decline has limited Solana's price growth after testing resistance levels, with the current price sitting above its short- and medium-term moving averages but below key longer-term levels.

The proposed changes to Solana's inflation rate and token burns may have a significant impact on the network's supply dynamics and could influence token scarcity.