Solana's daily transaction count has plummeted by 50% since July, even as the price of SOL has surged by 37%. Data from CryptoQuant indicates that transaction volume fell from 125 million to 64 million between July 24 and October 9. Analysts suggest this divergence points to a rally driven by speculation rather than genuine demand. Despite the price increase, Solana's app revenue has decreased by 40%, with memecoins comprising half of the total app revenue. Institutional interest has grown, with corporate treasuries holding 14 million SOL tokens as of October, up from 1.8 million in July. Analysts are divided on whether Solana's price will stabilize or correct if network usage continues to decline.