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Solana Faces Significant Drop, Shaking Crypto Markets: What’s Behind the Decline?
After a week-long rally that saw SOL reaching close to $210, the cryptocurrency plummeted to a five-day low of $166. This decline came on the heels of a brief period where Solana boasted an all-time high market cap of around $92 billion. However, as the market momentum shifted to bullish sentiment following a day of losses, SOL managed to claw back some of its losses, trading at approximately $174 with a market cap of around $77 billion at press time.·
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