In the past 7 days, the token has gained 3.3% after bouncing off $118 last Thursday. Yesterday, the FOMC minutes were released. They showed split views among the Committee members regarding this month’s rate cut.

The cut was approved by 9 out of 12 members, this being the most dissented decision since 2019, before the pandemic hit.

Meanwhile, the Committee sees the possibility of further cuts ahead as long as inflation starts to decline rapidly. This gives market participants a hint of what kind of scenario will play in favor of risky assets.

If inflation in December and January drops sharply, they may expect more favorable macroeconomic conditions ahead, which should boost the price of cryptocurrencies down the road.

Transaction Volumes Decline Sharply as Interest in Meme Coins Wanes

Solana’s on-chain metrics show that the network’s activity has steadily declined in both November and December compared to October’s peak. Data from DeFi Llama shows that DEX volumes have increased by 11% in the past week, but they will still close the month nearly a third lower compared to October.

Meanwhile, Artemis data shows that monthly active users within the Solana blockchain have declined sharply from a peak of 6.7 million back in November 2024 to 3 million at the time of writing, reflecting much lower interest in Solana meme coins.