Current State of Solana in the Crypto Market
What has been the recent performance of Solana in the crypto market?
In late November 2023, Solana (SOL) has faced a sharp decline, with an astonishing 74.84% of its total supply now showing a loss. This situation starkly contrasts with Bitcoin (BTC), Ethereum (ETH), and XRP where only 34.91%, 38.37%, and 36.70% of their respective supplies are in the red. Solana’s pronounced volatility raises concerns about its practicality for payroll applications, particularly for businesses contemplating its adoption.
How do the recent market movements reflect on Solana’s position?
The market correction has exposed vital differences in performance, with BTC, ETH, and XRP remaining relatively stable. In stark contrast, Solana’s price has seen…
