Solana (SOL) Plummets Below $100 Amid Market Turmoil: Key Factors Behind the Drop
Solana (SOL), the seventh-largest altcoin by market capitalization, has experienced a dramatic decline, falling below the $100 mark for the first time since February 2024. This unexpected downturn has sent shockwaves through the cryptocurrency market, especially following a brief price surge after SOL’s integration into major payment platforms PayPal and Venmo. The drop is attributed to a combination of macroeconomic factors, including political tariffs under President Trump’s administration, which have heightened market uncertainty. As of April 8, 2025, investors are closely monitoring SOL’s performance amid broader crypto market volatility.
Market Panics as Solana (SOL) Drops Below $100 For The First Time Since February 2024
Solana (SOL), the 7th most valuable altcoin by market cap, has hit a significant dip for the first time this year. On April 7, 2025, the altcoin dropped below the $100 price mark for the first time since February 2024, shocking market players. This downturn follows a mild price jump after SOL was added to leading online payment systems PayPal and Venmo. Factors such as President Trump’s political tariffs and negative futures trading could be driving the downtrend. Social sentiments are divided; some traders see the decline as a dip-buying opportunity, while others fear incoming or extended market volatility. SOL quickly corrected, jumping above the $100 price mark shortly after.
Pipe Network Cuts Solana Sync Time by 30% for Validators
Pipe Network, a decentralized infrastructure project from Permissionless Labs, has publicly spotlighted its verifiable access to Solana snapshots through its decentralized CDN. According to internal performance benchmarks, usage of Pipe Network points to 30% faster node initialization and far lower infrastructure costs. Pipe also reports handling approximately 100 TB of snapshot traffic daily, 700 TB weekly, and around 3 PB per month, which is a significant contribution to the Solana network’s overall bandwidth burden.
Solana (SOL) to $77 or What? Bulls and Bears Face Off
Solana (SOL), the world’s sixth-largest cryptocurrency by market cap, is gaining massive attention from Binance traders. Recently, data from the on-chain analytics firm Coinglass revealed that 79% of top traders on Binance are going long on SOL, despite the bearish market sentiment. According to expert technical analysis, SOL appears bearish despite the ongoing price recovery. On April 6, 2025, SOL broke down from its prolonged key support level of $115 and also closed a daily candle below that level, pushing SOL into an extremely bearish phase.
Solana Price’s Epic Fall
The new week looks gloomy as Solana (SOL) price and other cryptocurrencies record a free fall. The Trump tariff drama has taken over not just cryptocurrencies and altcoins but traditional finance markets as well. SOL has lost 16.27% of its value to trade at $100.32, showing more than a 40% drop in value over the past year. Solana price owing to bearish pressure has continued to sink in tandem with the larger market and BTC price action. This plunge has led the coin to lose its position as the fifth-largest cryptocurrency by market capitalization to Binance Coin (BNB). As Solana sat on the 7th spot by market cap, it showed SOL had lost its market share amid the bear market blues. Before resting at its current price, Solana fell as low as $96.58, marking the first of such drop since February 2024.
