Since the end of November 2024, Solana ( $SOL ) prices have fallen by more than 30%, raising concerns among investors and crypto enthusiasts. This significant decline comes after a period of strong growth, during which Solana had reached historic highs.
Crypto – Solana falls by 30% after its November ATH!
Solana, known for its speed and low transaction fees, has been one of the best-performing cryptos in recent years. In November 2024, SOL reached a new ATH of $264, a record since 2021.
However, after this spectacular rise, Solana began a downward trend and is currently trading around $185, marking a drop of about 30% from its last peak in November.
This drop in Solana can be attributed to several factors. Firstly, a market consolidation and a decrease in activity on Solana’s native platform have been observed. Additionally, Bitcoin’s inability to maintain $100,000 and year-end profit-taking have also contributed to this drop in SOL. Finally, a marked decline in transactions and TVL on Solana has been noted, in favor of new crypto platforms like Hyperliquid.
