The crypto market is hemorrhaging: with a 17% drop in the popular altcoin, the uptrend is over!

A favorite of investors #Solana (SOL). düşüş eğiliminde olan kripto piyasası ile birlikte düşüş yaşamaya başladı. Ancak altcoin rakiplerinden daha hızlı bir şekilde düşüş yaşadı. # Solana. The 24-hour drop in its price was 8.98%, bringing the price to $80.51.
With the daily decline, the weekly losses reached over 17%. Year-to-date, Solana has recorded one of the most intriguing growth trends, rising to $125.19 annually.

The altcoin has seen almost 700% year-on-year growth in 2023. However, contrary to the expected rise for the protocol, there was a decline. Looking at the available data, the Solana trend seems to be over. The end of SOL's uptrend seems to be reflected in the performance of the meme coins built on it. On the rise for a while #BONK ve # Meme coins such as Dogwifhat (WIF) are also facing intense selling pressure.
Potential Solana Growth Catalysts
A reassuring factor about the current #Solana downtrend is that it is a decline due to an overall market dominance. The emergence of spot Bitcoin ETFs has not resulted in the expected bullish trends for BTC, which could be reflected in the overall market.
Bitcoin's decline is leading the decline in the altcoin market. A reversal of this situation and the rise of #BTC could trigger Solana to rise again. Therefore, it can be said that this is one of the critical catalysts. In addition, the optimism surrounding the yet-to-be-released Solana Mobile update and how it might attract new users is also a positive catalyst that could change the narrative for SOL in the medium to long term.
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