Solana
Why Solana is down 2.0% today
Analysis
Solana (SOL) fell about 2.0% over the past 24 hours as broader crypto ETP sentiment remained pressured, with CoinJournal noting a four-week streak of overall crypto ETP outflows even though Solana saw some inflows. Adding to the cautious tone, U.Today reported that Tron flipped Solana in weekly Layer-1 transaction fees, which may have weighed on near-term sentiment around Solana’s network competitiveness.
Contributing Factors (2)
Solana, XRP attract inflows despite 4-week crypto ETP outflows streak
Digital asset investment products saw outflows of over $173 million last week. Bitcoin and Ethereum recorded the most outflows amid broader price weakness. Solana and XRP maintained their inflow momen...
Tron Flips Solana in Weekly Layer-1 Transaction Fees
Tron is now the largest layer-1 chain in terms of transaction fee revenue.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.