Summary
- Solana dropped 14% in the past 7 days, turning overall market investor sentiment bearish.
- Cointelegraph stated that while demand for leveraged positions increased, Solana's downtrend was linked to fading expectations for the Trump meme coin.
- Approval of a spot ETF by the U.S. SEC was mentioned as a short-term factor, while the growth of tokenized securities and broader adoption of Solana by enterprises are considered key long-term drivers.
Solana (SOL) posted a 14% decline over the past seven days, with analysis indicating that overall market investor sentiment has turned bearish.
On the 19th (local time), Cointelegraph reported, "Solana posted a 14% decline in the past 7 days, clouding the possibility of reclaiming $200. While demand for leveraged positions surged, overall market investor sentiment shifted to bearish."
They further analyzed, "Solana's downtrend is due to fading excessive expectations after the Trump-related meme coin frenzy." Previously, the official Trump meme coin (TRUMP) issued on Solana drew attention.
Meanwhile, the media also noted that approval of a spot ETF by the U.S. Securities and Exchange Commission (SEC) is seen as a short-term catalyst for Solana, but in the long term, the key factors are the growth of tokenized securities and wider adoption of Solana by enterprises.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
