Solana, Cardano and Avalanche are currently carrying out loss of the cryptocurrency market, each undergoing drops of more than 5% in the last 24 hours. Solana’s price dropped by 5.6%, which reduced it to $ 125.32. Similarly, Cardano dropped by 5.5%, bringing its price to $ 0.6031, and Avalanche experienced a drop in value of 5.8%. Other altcoins, including Chainlink, also showed notable losses, with a chain link of 3.7%.
Bitcoin, on the other hand, worked relatively better, with a drop smaller by 2.2% during the same period. The price of Ethereum, like the larger market, also fell 4.4%, regulating $ 1,571.61. Overall, the cryptography market is down 4.3%, altcoins struggling more than bitcoin.
Despite these losses, there have been positive developments in Solana’s ecosystem. Canadian regulators have approved FNB Solana for cash trading, products that should be launched in Canada this week. While American regulators have not yet approved FNB Solana, this decision in Canada has brought some optimism. Approval is considered a step forward for Solana, which fought with scandals surrounding the pieces even based in Solana as official Trump (Trump) and Balance. The token is now down by almost 50% compared to its summit of $ 262.56 on January 19, 2025.
In addition, a certain institutional interest for Solana remains. The Janover real estate financing platform recently bought $ 10 million tokens Solana, acquiring 80,567 soil. The Solana Policy Institute, a Lobbying group based in Washington, DC, is also preparing for a next round of financing, providing more support for the ecosystem.
Despite the downward price movement, Solana experienced a 17.5% increase in last week, but it lost 2.8% per month. This occurs while the larger Altcoin market continues to fight with lower venture capital funding, which has decreased from 50 to 60% compared to its 2021-2022 levels. This lack of investment particularly affects the Altcoin sector, including Solana.
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