Why is Solana (SOL) price down today?

Solanas native token, SOL (SOL), experienced an amazing 58.6% rise in just five days, reaching a $64 high on Nov. 11. The 5.5% day-to-day decline on Nov. 13 is unlikely to be tied to macroeconomic or sector motorists, such as the prospective approval of a spot BTC exchange-traded fund.Solana remains a leading competitor in terms of performance and on-chain activityDespite the current decrease in SOLs price, a seven-day gain of 35% recommends that financiers need to not hastily embrace a bearish outlook, as this might simply be a natural correction following Solanas significant outperformance. Source: DefiLlamaIts noteworthy that Solanas TVL lags behind Avalanches $614 million, in spite of Solanas excellent $22.7 billion market capitalization. NFT information reveals Solana is a top competitor Solanas development as a strong gamer in the nonfungible token (NFT) market was one of its noteworthy selling points, provided the high costs associated with providing and keeping collections on Ethereum, the leading blockchain.

Solanas native token, SOL (SOL), experienced an exceptional 58.6% rise in just five days, reaching a $64 high on Nov. 11. Source: DefiLlamaIts noteworthy that Solanas TVL lags behind Avalanches $614 million, regardless of Solanas impressive $22.7 billion market capitalization. NFT data shows Solana is a leading contender Solanas development as a strong gamer in the nonfungible token (NFT) market was one of its notable selling points, offered the high costs associated with issuing and maintaining collections on Ethereum, the leading blockchain.