🎢 Solana's native token, SOL, has been on a rollercoaster ride, with a 24% correction since June 7. This underperformance against the overall crypto market might be due to a lack of an ETF for SOL, among other factors. 📉

Despite the crypto market's potential, investors are eyeing the strong performance of the S&P 500 index and the U.S. economy's high interest rates. This is particularly burdensome for altcoins like SOL. 💰

Competition for smart contract-focused blockchains is heating up, and Solana's native staking reward rate is only 1.3% above the SOL token inflation rate. This impacts Solana’s total value locked (TVL), which has stagnated below $30 million since May. 🤔

What do you think about Solana's future? Will it be able to compete in the fierce blockchain market? Share your thoughts below! 👇