Solana Price Stuck as Governance Vote Looms

Solana's price remains stuck in a narrow range between $65 and $85 since June, despite new data showing record network activity and a decline in wallets holding at least 0.1 SOL.

The number of small-holder wallets has dropped by 5% over the past two weeks, from 11.84 million to 11.26 million, according to on-chain analytics account Ali Charts.

However, this decrease is accompanied by a record-breaking 1.01 billion non-vote transactions processed by the network last week, per SolanaFloor's data.

The outcome of an upcoming governance vote on a proposal to double the network's disinflation rate could have a significant impact on Solana's price, with estimates suggesting that slower emissions would lead to tighter supply growth and potentially support price over time if demand holds steady.