The cryptocurrency market is experiencing a challenging period that began after Trump's inauguration and his unfulfilled promises. This has significantly impacted Bitcoin and affected popular altcoins like Solana.
Political Influences on the Crypto Market
After Trump's inauguration, many expected a golden era for cryptocurrencies, but his policies towards Mexico, Canada, and China had the opposite effect. Initially, this hit Bitcoin and then a range of major altcoins, including Solana.
Why is Solana Facing Challenges?
Solana's decline in value is attributed to several factors: a drop in total value locked, a shift towards other chains like Ethereum, and downturns in the meme coin sector. These issues are increasing the strain on the Solana network.
The crypto market is in a state of uncertainty, but alternatives like Solaxy are emerging, offering new solutions for investors.
