Solana USD drops 2.13% during midday trading- Another Brearish Move by the Crypto Market?

11th Feb, 2025; SOL faces a major 2.13% slump. The price comes down to as low as $198. Almost all traders who thought Solana would be the next Big Breakout from this bearish market are in shock now.  

Of all stablecoins, Solana was particularly known for its smooth transactions and low operating charges. The coin started trading today at $200.39.  

Sadly, it stooped to a significant low of $197.18 within hours and even reached a major high of $205.82, in some more time. This volatility will also shake investors’ confidence beyond imagination.  

Is Solana out of wits? 

Bitcoin’s gradual stability is helping other stablecoins like ETH, SOL, and others to gain traction. On that note, Solana was showing great improvement, especially when it ended its 52-week span with a high of $294.33.  

But there is one catch, seasoned investors must have noticed. The all-time low for the 52 weeks is $98.59. The bottom line- Solana is not stable at all.  

A crypto that has 488.07 million tokens in circulation and has been operating for some years now, must have shown more resolve than this. The market cap of Solana is $96.737 billion today.  

That said, it is apparent that the token has huge investor sentiment in its favor.  

The fact that the trading volume for the last one day is almost $4 billion, also suggests the same. Traders are buying in, too.  

The crypto is available in 839 markets, of which the US is one of the most potential slots. On that note, the question that every investor asks is why did the sharp decline happen overnight.  

There are many theories regarding that.  

But, on short notice, it is clear that the bearish market sentiment and volatile performance of other crypto players is having a strong effect on Solana too.  

Trader’s takeaway  

Traders must not let this sudden downfall decide their view about this crypto. Solana has been volatile but has also shown positive growth throughout the last year. In the meantime, transaction volume has gradually increased and developers have taken a nuanced interest in the coin.  

The market needs to observe the coin closely. If there are other such abrupt downfalls in the coming few weeks, then we may observe a massive sell-off too.