Solana price continued its freefall this week and is on the verge of forming a death cross, as Polymarket traders bet it may crash to $80 soon.$SOL

Solana was trading at $106 on Wednesday, down by over 60% from its highest level in January. 

A Polymarket poll with over $2 million in assets estimates that SOL may drop to $80 in April, a further 25% decline from current levels. About 35% of participants expect the token to hit that price, while just 15% see it rising to $150.

Solana’s ecosystem has faced headwinds in recent months. According to CoinGecko, the total market cap of all memecoins on the network has plunged from over $30 billion in January to just $5.6 billion today.

Solana is also no longer the biggest player in the decentralized exchange industry, a title it held in the past few months. The total volume handled by protocols in the network in the last 30 days was $45 billion, lower than Ethereum’s $57.9 billion. Its top DEX protocols are Orca, Meteora, Pump, and Raydium.