According to a report by Cointelegraph on March 20th, Solana's decentralized application (DApp) revenue has fallen to an 18-month low, and the price of SOL faces the risk of retesting the $80 support level. SOL has fallen 11% to $87 over the past three days, triggering the liquidation of $25 million in long positions. Perpetual contract funding rates are near 0%, indicating weak long demand, with short sellers dominating leveraged demand over the past month. The options market delta skew has risen to 12%, with put options trading at a premium, showing a lack of confidence among professional traders in the $87 support level. Solana DApp revenue has fallen from $36 million two months ago to $22 million, marking an 18-month low. While Solana maintains its leading position in DEX trading volume, it faces fierce competition from Hyperliquid in the perpetual contract trading space, which holds over 80% market share in the sector.