Solana (SOL) is experiencing volatility as its Total Value Locked (TVL) drops below $9 billion for the first time since November 2024. The decline in TVL raises concerns about user confidence in the Solana ecosystem. Despite this, Solana remains one of the top chains in terms of volume, ranking second behind Ethereum in the last seven days. If user confidence returns, SOL could regain values above $200 in March, but continued selling pressure could push it below $100. The decline in TVL is attributed to skepticism about major players like Pumpfun and Meterora and controversies surrounding the launch of meme coin LIBRA. Despite the price correction, Solana continues to demonstrate significant user activity and adoption. Solana currently holds the second spot in terms of volume over the last seven days, closely followed by BNB. On-chain metrics suggest strong underlying demand for Solana, and if an uptrend emerges, SOL could test resistance levels at $152 and $183, potentially reaching $205 in March.



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