Solana (SOL) has declined to $117, a 60% drop from its all-time high, influenced by global economic factors and internal network challenges.
Global Market Challenges
Global financial markets are under pressure due to geopolitical and macroeconomic conditions. U.S. President Donald Trump's announcement of tariffs on Mexican, Canadian, and Chinese imports sparked fears of a trade war, while Japan's bond yield surge decreased risk appetite.
Impact of Token Scandals
Scandals involving TRUMP and MELANIA tokens, as well as LIBRA, have exacerbated Solana's negative perception. Trust erosion is significant, with thousands of traders reporting substantial losses.
Solana's Future: From Memes to Stability
Despite setbacks, Solana might benefit from regulatory opportunities. SOL-backed ETFs could attract institutional capital, but the network needs to focus on sustainable projects rather than speculative tokens.
Solana faces challenges due to global instability and internal issues. Its future prospects depend on redirecting focus towards sustainable development.
