Solana price falls to the lowest level in 45 days
The price of Solana coin SOL fell to its lowest trading level in 45 days amid a general decline in the cryptocurrency market.
This decline has raised concerns among investors and traders in the alternative digital currency, with increasing doubts about the possibility of continuing the positive performance witnessed in recent months.
Solana retreats from major digital assets
The data shows that Solana significantly lagged behind major networks such as Ethereum, Arbitrum, BNB, Polygon, Optimism, etc.
This decline comes when the digital asset market is experiencing greater volatility and selling pressure due to macroeconomic uncertainty and caution on the part of traders.
For Solana coin, which has suffered a decline in price from previous highs, the 45-day low represents a turning point that has raised concerns about the digital asset's near-term prospects.
Analysts attribute this decline to a combination of general market weakness and the network's difficulties, including decreased on-chain activity, a lack of demand for leveraged positions, and competition from other blockchains focused on smart contracts.