Solana News Update: Adrena Shifts to Maintenance Mode as Solana Ecosystem Focuses on Long-Term Sustainability Instead of Expansion

Solana Ecosystem

DEX Adrena Moves to Maintenance Mode

The

blockchain network is undergoing further changes as Adrena, a perpetual decentralized exchange (DEX) operating on Solana, has shifted into maintenance mode. This development comes as Solana demonstrates ongoing strength in the market, with DEX trading volumes surpassing $5 billion and institutional interest rising due to the introduction of new spot ETFs.

Solana's native asset (SOL) has recently exhibited mixed technical trends, hovering around $165 after reclaiming this price on November 9 following a period of consolidation. Although this movement coincided with a broader crypto market recovery—Bitcoin increased by 3% and

climbed 6% over the weekend—key technical signals point to possible short-term challenges. The 20-day moving average and a 62% chance of reversal, as indicated by the Breakout Probability (Expo) tool, suggest traders should be cautious about a potential breakout above $180 .

Despite these technical uncertainties, Solana's DEX infrastructure remains central to its expansion. Based on Defillama figures shared by community member Solanasensie, Solana DEXs saw $5.11 billion in daily trading volume on November 9, surpassing Ethereum's $3.8 billion and

Chain's $2.95 billion . This surge indicates a shift among DeFi users to keep capital within Solana's ecosystem through passive yield strategies, rather than moving to stablecoins during market swings. Staking activity also highlights this pattern, with the total staked increasing by 2.9 million tokens from November 5 to 9, temporarily lowering the amount available on exchanges and potentially helping to stabilize prices .

Institutional trust in Solana has grown as well, fueled by the rollout of U.S. spot ETFs. Since their launch on October 28, offerings like Bitwise's BSOL and Grayscale's GSOL have drawn more than $342 million in total inflows, with BSOL alone accumulating $329 million in assets

. This trend persisted into November, with ETFs attracting $6.78 million in new investments on November 10, marking ten consecutive days of positive inflows . Experts attribute this interest to Solana's high-performance network, which enables scalable DeFi and NFT projects, as well as recent regulatory updates that permit staking rewards for approved crypto products .

Nevertheless, price trends remain a key concern for investors. SOL's struggle to break above the $172 resistance level has led to bearish technical formations, such as an inverse cup-and-handle pattern, which could signal a drop toward $96 if the $126 support fails

. On the other hand, positive signs like a steady 200-day moving average and increasing ETF holdings point to long-term optimism. Analysts such as BATMAN on X observe that Solana's current chart resembles a "bullish flag" pattern, which has historically preceded strong upward moves .

Adrena's move to maintenance mode mirrors a broader industry shift, as projects focus on long-term stability rather than rapid expansion. While this may mean slower innovation in Solana's perpetual DEX sector for now, it fits with the ecosystem's efforts to strengthen its foundation ahead of possible macroeconomic catalysts. With robust DEX activity and continued institutional investment, Solana's ability to manage short-term volatility will likely shape its path in the near future.