3 key Solana metrics explain exactly why SOL price is down By Cointelegraph

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3 key Solana metrics clarify precisely why SOL worth is down

The previous eighty days have been reasonably bearish for cryptocurrencies because the altcoin market capitalization declined by 16%. The draw back motion might be partially defined by the USA Federal Reserve’s quantitative tightening, rising rates of interest and the halting of asset purchases. Though they’re geared toward curbing inflationary strain, the coverage additionally will increase borrowing prices for shoppers and companies.

The downfall of Solana’s SOL (SOL) token has been much more brutal, with the altcoin going through a 29% correction since August. The good contract community focuses on low charges and pace, however the frequent outages spotlight a centralization challenge.

Solana/USD worth (blue) vs. altcoin capitalization (orange). Supply: TradingView
community complete worth locked, SOL. Supply: DefiLlama
Solana DApps 30-day on-chain information. Supply: DappRadar
Solana 3-month futures annualized foundation. Supply: Laevitas

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