Introduction

What is Solana

Solanan is a smartcontract compatibal blockchain like ethereum. The difference between solana and ethereum is the former's high speed of transactions. This new to the fame blockchain network can perform 50,000 transactions per second, and that's what makes it unique.

What is a Bear Market?

A bear market is a prolonged period of price declines in a stock or entire market, usually of 20 percent or more from a recent high. Investors typically track the world's major indexes like the S&P 500 and the Dow Jones Industrial Average to see when they enter bear market territory.

Methodology

• We will look at Solana transactions, users, gas fees, price, and NFT mints during May.

• We are looking to see how Solana has been performing during the current market conditions.

Solana Health Metrics

Observations

• Solana has around 1 - 2 Million daily active users

• Most days between 30% - 60% of all solana transactions fail each day in the past month.

• In May the daily transactions on Solana have been between 20 and 36 million.

Observations

• The transaction fees on solana have been very minute and never even come close to costing 1 USD.

• During May of this year Solana collected under 200 SOL from Fees.

Observations

• During the month of May the NFTs Minted on solana have been increasing

• Whales most other solana use cases have been declining, NFTs have become more and more used.

Conclusion

• During May of this year Solana collected under 200 SOL from Fees.

• Solana has around 1 - 2 Million daily active users.

• Most days between 30% - 60% of all solana transactions fail each day in the past month.

• NFT seems to be holding up very strongly on Solana.