TVL, network outages, or derivatives: What’s behind Solana’s (SOL) 60%+ drop? By Cointelegraph
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The past couple of months have not been kind to cryptocurrencies. The sector’s aggregate market capitalization plunged 50% from a Nov. 10 peak at $2.87 trillion to the current $1.44 trillion. ‘s (SOL) downfall has been even more brutal, presently trading at $88 after a 66% correction since its $260 all-time-high.
Pinning the underperformance exclusively to the recent network outages seems too simplistic, and it doesn’t explain the accelerated decoupling over the past week, so let’s take a look at what might be going on.
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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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The past couple of months have not been kind to cryptocurrencies. The sector’s aggregate market capitalization plunged 50% from a Nov. 10 peak at $2.87 trillion to the current $1.44 trillion. ‘s (SOL) downfall has been even more brutal, presently trading at $88 after a 66% correction since its $260 all-time-high.
Pinning the underperformance exclusively to the recent network outages seems too simplistic, and it doesn’t explain the accelerated decoupling over the past week, so let’s take a look at what might be going on.
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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