The cryptocurrency market has confronted important challenges over the previous two months. October is normally a bullish month for the crypto market, however 2025 had different plans. The bearish development continued in November, inflicting enormous losses for buyers. Solana (SOL), one of many best-performing cryptocurrencies in 2024, has seen huge capital outflows in latest weeks amid the market crash. In accordance with CoinGecko information, SOL value is down 6.9% prior to now 24 hours, 2.6% within the final week, 9.9% on the 14-day chart, 31.4% month-over-month, and 46.6% since December 2024. Solana (SOL) rose to an all-time excessive of $293.31 in early January of this yr, however has since fallen additional. 56% from peak.
Why you should not concern Solana’s value crash
Solana (SOL) has confirmed to be probably the most resilient cryptocurrencies in the marketplace. After FTX’s collapse, the asset’s value fell to the $9 degree in 2022. For the reason that 2022 low, SOL value has hit a number of all-time highs. Taking a look at SOL’s historic information, it is protected to imagine there is not any must concern this asset’s present woes.
The latest market crash could also be as a result of renewed volatility after the Thanksgiving vacation. Moreover, China’s reaffirmation of its stance on banning cryptocurrencies might additional enhance value volatility. Nonetheless, Solana (SOL) and the bigger crypto market are more likely to get well within the coming weeks. The probability of additional rate of interest cuts this month has elevated considerably over the previous week. If the US Federal Reserve cuts rates of interest by one other 25 foundation factors (bps), inflows into danger belongings corresponding to cryptocurrencies might surge.
Solana (SOL) has additionally launched a number of ETFs prior to now few weeks. ETF inflows are more likely to speed up within the coming days. Both improvement might lead to SOL returning to the $200 degree.
