Solana's price has dropped over 50% from its all-time high due to a slowdown in trading activity on its network and concerns about its involvement in the Libra meme token scandal. The decline accelerated after the Libra token lost 90% of its value, leading to accusations of fraud and calls for the impeachment of the Argentine President. Solana's decentralized exchange trading volumes have also dropped to a five-week low due to a cooling interest in meme coin trading. Despite this, multiple fund issuers have filed applications based on Solana's spot price, and there is a 70% probability that the SEC will approve these ETFs. The drop in SOL's price is part of a broader slump in the digital assets market, with Bitcoin, Ethereum, Dogecoin, and XRP all experiencing sharp falls due to investor concerns about a potential trade war, rising inflation, and global political unrest.



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