Solana Down 6% As Expert Touts ‘Relatively Cheap’ Price: What Is Going On?
Posted On January 8, 2025
Solana (CRYPTO: SOL) has dropped below the $200 mark, down 6% on the day as the wider cryptocurrency market continues its slide.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Solana (CRYPTO: SOL) | $196.99 | $95.3 billion | -6.2% | +3.9% |
| Bitcoin (CRYPTO: BTC) | $95,256.56 | $1.88 trillion | -5.3% | +1.8% |
| Ethereum (CRYPTO: ETH) | $3,353.91 | $404.2 billion | -7.7% | +0.8% |
Trader Notes: Prominent venture capitalist Andrew Kang stated in a post on X on Wednesday that Solana has retraced most of its gains following the post-Trump election rally, creating what he considers a buying opportunity.
Kang believes an ETF approval for SOL in 2025 is highly likely, with critical deadlines in the year’s first quarter.
Unlike Ethereum, Solana does not face challenges like the Grayscale overhang, which could …
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