$SOL $SOL Solana Bearish Trend Deepens, Underperforming Bitcoin Amid Meme Coin Bust.
Solana has seen a challenging market performance in recent weeks, posting a significant 32% price drop over the past 30 days.
This marks a more bearish trend compared to Bitcoin’s more modest decline during the same period.
Data from Glassnode reveals that Solana outperformed Ethereum on 23 out of 49 days since the start of the year. However.Over the last 30 days, SOL dropped by 32%, Ethereum saw a 17% decline, and Bitcoin dropped by just 8%.
At press time, Solana is trading at $169.74, reflecting an 8.47% drop in the last 24 hours. This price also reflects a 16.16% decline over the past week.
Meanwhile, Ethereum showed more stability, trading at $2,700 with a 2.83% drop in the last 24 hours but a slight 0.41% increase over the past week.
