#SolanaSurge Solana (SOL) and Cardano (ADA) lead the losses among altcoins so far this Wednesday, with declines of 5.6% and 5.5%, respectively, in the last 24 hours, according to CoinGecko data.

The cryptocurrency market as a whole retreated 4.3%, with the price of Bitcoin showing relatively better performance, dropping 2.2% in the same period. Other altcoins also performed poorly, with Avalanche falling 5.8% and Chainlink dropping 3.7%.

The price of Solana rose 17.5% in the last week, reaching US$ 125.32, but has accumulated a decline of 2.8% in the monthly comparison. The cryptocurrency has already lost almost 50% compared to its recent high of US$ 262.56, recorded on January 19, amid scandals involving memecoins based on the Solana network, such as Official Trump (TRUMP) and LIBRA.