Solana (SOL) emerged as one of many greatest losers of the current market crash. Most belongings within the cryptocurrency trade had been seen drowning in bearish waters. The market was crumbling resulting from a number of exterior elements. All through the month of February, SOL was seen struggling. The asset did not retain itself over the $200 zone bringing in signifcant losses for its traders. However with March across the nook, the group is betting large on the altcoin to reclaim $200.
Can Solana Recuperate From Its Present State?
Within the month of February, Solana witnessed an enormous downfall of 46%. The asset was priced at a excessive of $240 in the course of the starting of the month. The asset quickly dipped to a low of $132.49. SOL was one among the many belongings that suffered grave losses in the course of the current carnage. Over the previous 24 hours, the altcoin dipped by almost 14%. On the time of writing, Solana was buying and selling at $135.48.
The Solana community seems to have been utterly impacted. Along with the overall market downturn, the community was affecting SOL’s pricing. Latest statistics from well-known cryptocurrency analyst Ali Martinez present that Solana’s community exercise decreased by 60%. From an all-time excessive of 18.5 million energetic addresses in October to only 7.3 million now, Martinez notes, this has drastically decreased.
#Solana $SOL community exercise has declined by 60%, dropping from an all-time excessive of 18.5 million energetic addresses in October to only 7.3 million at this time! pic.twitter.com/Ml8s23EnH8
— Ali (@ali_charts) February 25, 2025
How Will The Altcoin Kickstart The Month Of March?
Solana will certainly witness a significant shift in its pattern. The sixth largest cryptocurrency is predicted to see a slight improve in its worth. In line with knowledge from CoinCodex, Solana is slated to surge to a excessive of $144.69 on March 1. This marks a 6.56% surge from its present worth degree. Over the past couple of days of this month, SOL will probably rise increased than its current worth.
