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Solana (SOL) has struggled to maintain its bullish momentum, shedding 9.3% in the last 24 hours to a low of $166, marking its lowest level since mid-December.

Crypto-focused asset manager Grayscale has announced the creation and launch of the Grayscale Pyth Trust. Pyth Trust is a single-asset crypto investment fund designed to offer exposure to Pyth Network (PYTH), the native governance token of the oracle network's ecosystem.

The sentiment has begun to turn bearish for SOL.

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The exposure of this network highlights the urgent need for increased transparency and regulation in the cryptocurrency market to protect investors. The post DefiTuna founder uncovers network exploiting $200 million from meme coin launch on Solana appeared first on Crypto Briefing.

TL;DR Solana has dropped nearly 38% since January, affected by memecoin speculation and a decline in trading volume. The collapse of the LIBRA token and market manipulation have weakened confidence in the network, with insider traders extracting over $200 million. On March 1, 11.

In a recent report, on-chain data research provider Kaiko evaluated the liquidity ranking of several crypto assets, including major cryptocurrencies XRP, SOL, BTC and ETH. This is necessitated amid increasing odds of altcoin spot ETFs and as market depth returns to pre-FTX levels.

Bitcoin (BTC) registered a drop late on Monday, falling from $97,000 to $95,243 before rebounding and settling just above $96,000. The flagship cryptocurrency registered another slump during the current session, falling to a low of $95,189 before recovering and moving to its current level.

The Solana price has dived by 8% in the past 24 hours, dropping to $169 as the cryptocurrency market falls by 3% today.SOL is now down by 16.

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The Grayscale Pyth Trust offers accredited investors exposure to PYTH, the governance token behind Solana's leading oracle network.

Solana's price has plunged 9% in the last 24 hours as selling pressure mounts. Solana (SOL) has been among the worst performers in the last 24 hours, down by approximately 9%, according to crypto.news.

As Solana's momentum slows, investors are shifting to Remittix, a rising altcoin with real-world crypto-to-fiat payment solutions. #partnercontent

Solana has lost almost 45% of its value in the last month due to severe downward pressure as the larger cryptocurrency market battles liquidity issues. Due to the precipitous drop, SOL has reached a pivotal point, and traders are keeping a careful eye on important price levels that could determine the asset's future course.

Solana has dropped to its lowest level since mid-December, amid meme coin controversies and a looming token unlock event.

A total of $279 million in liquidations has hit the broader cryptocurrency market. Data from CoinGlass shows that top altcoins suffered more liquidation in the last 24 hours from long-position traders.

Solana (SOL) served as something of a herald for the latest cryptocurrency bull market as it enjoyed a particularly sharp rally in late 2023 and early 2024, taking it from about $20 to above $200 – 900% increase in just six months.

Solana has been among the worst-performing cryptocurrencies in the past 24 hours, plunging 10% to $162. The decline continues as the network experiences lower activity and increasing bearish sentiment. Here are the four key reasons behind Solana's sharp price drop today.

Cryptocurrencies traded with mixed performances on Tuesday, with Bitcoin still hovering beneath $97K. Meanwhile, Solana dominated trends as its meme token ecosystem faced a backlash amidst the LIBRA scam fallout. While that has dampened interest in memes and altcoins, Pi Network saw amplified enthusiasm, potentially due to its forthcoming mainnet launch, now 48 hours away.

Solana (SOL) price declined by more than 18% in the last 7 days as chaos in the memecoin category triggered a selloff. On-chain data suggests that SOL might be losing its shine and things could get worse.

Solana price slides 10% in 24 hours, continuing a downward trend—what's behind the recent decline?

Solana (SOL) extended its decline, reaching fresh lows, while Ethereum (ETH) and Ripple (XRP) struggled to gain traction after last week's failed recovery attempts. Market sentiment remains fragile, with technical signals flashing mixed trends across these top altcoins.

Solana's price has dropped below $185 as short sellers increase their positions amid memecoin controversies, despite the network maintaining strong revenue generation and transaction activity.

The SOL price has slumped against both the dollar and ether.