Solana's price took a significant hit, plummeting from over $222 to below $180, a 16.2% drop in 24 hours. One whale lost $2.37 million on a long position in SOL, while another, who had been buying continuously since October, suffered a loss of over $15.5 million. However, the network performed surprisingly well. Anza, a core developer on Solana, said the network underwent its "largest stress test to date" during peak liquidations. Peak TPS reached a record 100,000, and the validator client Agave handled six times the peak traffic with no performance degradation. On-chain DEXs processed a massive $8 billion in trading volume, with Jupiter accounting for $2.34 billion. This demonstrates Solana's scalability and stability in high-concurrency scenarios, effectively refuting previous market doubts about its network's stability. However, even the best technology needs people to use it. CryptoQuant analysts noted that while Solana's price has risen from $160 to $230 in the past three months, the number of active addresses on the network has actually declined. The 7-day moving average of active addresses dropped from 3.4 million at the beginning of Q3 to approximately 2.2 million by the end of the period. This suggests that the recent SOL price increase is driven more by speculation, whale trading, or ETF expectations than by genuine growth in network adoption and user activity.