Solana's price has experienced a sharp decline of almost 30% over the weekend, reaching $210. Despite this drop, the Solana network reached a record milestone of $258 billion in volume in January. The total volume handled in the network has now exceeded $969 billion, with the potential to reach $1 trillion in February. The decrease in Solana's price is attributed to the overall sell-off in the crypto industry, which also caused Bitcoin to briefly fall below $100,000 and the total market cap of all cryptocurrencies to drop by almost 4%. Within the Solana ecosystem, meme coin launches, including Official Trump (TRUMP), contributed to the network's growth. However, the market cap of all Solana meme coins has decreased from $25 billion to $14 billion. Despite the price decline, Solana's unique "proof of history" protocol is seen by analyst Knox Ridley as a factor that will make it a market leader in the future.



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