Solana
Why Solana is down 6.8% today
Analysis
Solana (SOL) fell 6.8% over the past 24 hours as broader market pressure pushed it below the $100 level, alongside investor focus on ETF-related flow dynamics and risk-off positioning highlighted in market coverage. Separately, headlines around Multicoin founder Kyle Samani stepping back from the VC firm may have added uncertainty around a prominent Solana-aligned backer, even as he said he will continue advocating for the ecosystem.
Contributing Factors (3)
Solana (SOL) Plunges Below $100, Bitcoin (BTC) Recovers From 15-Month Low: Market Watch
Meanwhile, HASH and HYPE have declined the most over the past 24 hours after charting impressive gains lately.
Multicoin founder Kyle Samani steps back from VC firm, will continue to advocate for Solana
Kyle Samani pledged to continue making personal investments in the crypto sector as he pursues other tech interests.
Solana wins January on-chain – So why did SOL still drop 20%?
With network dominance at record levels, the price contrast is unusual.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.