The post Solana Price Tumbles 20%, Broader Market Struggles, But Infinaeon Hype Grows appeared on BitcoinEthereumNews.com.

Solana (SOL) has crashed by double-digits as the rest of the market continues to struggle under pressure from the bears. The SOL price has dropped from its $190 high in July to below $130. In the past week alone, it has shed around 20% as selling pressure on one of the leading smart contract platforms has increased. While the Solana bulls were licking their wounds, the Infinaeon community has been growing in confidence. The layer-2 scaling solution has been turning heads among traders looking for the next Arbitrum (ARB). Infinaeon’s unique approach to gas fee allocation and its promising presale performance have made it a standout in the currently challenging market. This article will explore the factors contributing to Solana’s recent price decline and examine the resilience of the Infinaeon presale. We’ll delve into the specifics of Infinaeon’s technology and its potential to disrupt the Layer-2 market. Solana Price Crash Solana (SOL) has had a rough couple of weeks. The network’s native SOL token has crashed from its monthly high of $160 to $129. Several lines of support have been broken, and it’s not clear when the red candles will end. However, if we zoom out, it’s not all bad news for Solana. The project has been by far one of the most successful among the mega-cap cryptos over the past year. It has rallied by more than 1000% from its 2022 bear market lows, and it has continued to see healthy growth in its total value locked according to DeFiLama. The rally has helped Solana climb the ranks among the cryptocurrencies with the highest market capitalization. And it is still arguably the leader among the so-called ‘Ethereum killers.’ However, it is worth looking into how the memecoins deployed on Solana have performed over the past month, as it suggests…

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Filed under: News - @ September 3, 2024 7:21 am