TVL, network outages, or derivatives: What's behind Solana's (SOL) 60%+ drop?

TVL, network outages, or derivatives: What's behind Solana's (SOL) 60%+ drop?

SOL price is over 60% away from its all-time high and data shows that its loss of territory to competing chains is driving the correction. The past couple of months have not been kind to cryptocurrencies. The sector's aggregate market capitalization plunged 50% from a Nov. 10 peak at $2.87 trillion to the current $1.44 trillion. Solana's (SOL) downfall has been even more brutal, presently trading at $88 after a 66% correction since its $260 all-time-high.Pinning the underperformance exclusively to the recent network outages seems too simplistic, and it doesn't explain the accelerated....


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