Solana sheds $7b in 7 days: Is the crypto bull run over?

Memecoins powerhouse and major L1 blockchain network Solana lost billions in market cap on Monday, as the whole crypto market slid down over 4%.

Solana (SOL) lost roughly $3 billion in value and retraced to around $128, down 10% in the past seven days and around 50% away from its all-time high (ATH) set during the previous 2021 peak. 

Other major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), BNB, XRP, Toncoin (TON), and Dogecoin (DOGE), also declined as much as 10% in the last week amid a broad market downturn. The crypto fear and greed index notched a neutral level at around 51 for the first time in over a month. In other words, general crypto sentiment is uncertain about the market’s trajectory, whether bullish or bearish

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