SOLANA STRUGGLES TO RECAPTURE $200, but DApp and Derivatives Markets Remain Bullish
Solana’s native token SOL (SOL) experienced a 12.8% increase from March 24 to March 26, only to face a downward correction to $186 afterward. Despite this, investors remain hopeful, citing the surge in activities such as memecoins and airdrops on the Solana network as key factors that could maintain SOL’s positive trajectory and potentially elevate its price above $200.
SOL price succumbed to Bitcoin’s correction and a stricter regulatory environment
In a broader context, the cryptocurrency market faces potential vulnerabilities, particularly after Bitcoin (BTC) failed to hold above the $71,000 mark on March 26. This failure is seen as an indicator of dwindling investor confidence, especially concerning the outflows from spot Bitcoin exchange-traded funds (ETFs). Should institutional investors further reduce their stakes in listed crypto assets, the outlook for SOL and other alternative coins could darken.