Reported 14 days ago
Solana's price has plummeted over 60% from its all-time high of $295 in January to around $111.20, driven by fading retail interest in memecoins like BONK and $Trump. Although it had witnessed explosive growth, mostly fueled by speculative trading, the network is now experiencing significantly reduced trading volumes, with daily decentralized exchange transactions averaging only $1.5 billion. Holders are advised to assess whether this downturn is part of a normal market correction or indicative of deeper issues, given Solana's current weak fundamentals, including a high Fully Diluted Valuation relative to its Total Value Locked.
Source: YAHOO