Solana Trades Below $100 as Market Weakness Offsets Record Network Activity
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- Solana falls below $100 amid broad crypto market weakness and bearish derivatives signals.
- Network usage hits record levels, with daily transactions reaching nearly 150 million.
- Tokenized equities on Solana climbed to a new high of about $230 million.
Solana fell below $100 on Wednesday amid broad cryptocurrency market losses. The decline came despite record transaction activity and growing use of tokenized equities on the network. Traders focused on weakening demand, derivatives outflows, and bearish technical signals.
Price Decline Mirrors Broader Crypto Sell-Off
Solana trades at $97 at press time, down more than 6% over the previous 24 hours. The move followed a sharp downturn across digital assets, as investors reduced risk exposure amid rising volatility.
SOL has now declined about 23% over the past week and more than 50% on a yearly basis. Market sentim…
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