What’s behind Solana’s (SOL) 60%+ drop? By Cointelegraph

Feb 1, 2022



The previous couple of months haven’t been sort to cryptocurrencies. The sector’s mixture market capitalization plunged 50% from a Nov. 10 peak at $2.87 trillion to the present $1.44 trillion. ‘s (SOL) downfall has been much more brutal, presently buying and selling at $88 after a 66% correction since its $260 all-time-high.

Pinning the underperformance completely to the current community outages appears too simplistic, and it would not clarify the accelerated decoupling over the previous week, so let’s check out what may be occurring.

Solana/USDT at FTX (blue) vs. Complete crypto capitalization (orange). Supply: TradingView
Solana community Complete Worth Locked, USD. Supply: DefiLlama
Solana dApps 30-day on-chain knowledge. Supply: DappRadar
Solana futures mixture open curiosity. Supply: Coinglass