Solana’s slow bleed continues, with $SOL dropping 2.82% this week (Dec. 12-18).
It was another week where Solana’s pendulum swung in favor of the bears despite a promising start. Solana reached a weekly high of $233 on the back of Bitcoin’s latest ATH run, but the downward pressure dragged $SOL below $214 before its slight recovery.
This dip is reflected in the trading slump of some of Solana's top DEXs.
This sudden shift in DEX volume serves as a reminder of how quickly things can change in the Solana ecosystem—and the broader crypto market as a whole. Typical crypto rotation stuff.
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It’s still a Bitcoin world, with the leading crypto asset surging more than 6% in the past week. Solana continues to trend lower while Bitcoin remains above $100K.
Patience, Padawan.
Tron was almost muted, with its TVL failing to rise above $8 billion. This ensures that Tron remains in third place, with Ethereum accounting for 56% of the DeFi market.
The majority of leading Solana meme coins were not insulated from this week's bloodbath, forcing them to slide substantially.
The posts, which falsely claimed a partnership with Drake's gambling platform, Stake, generated $5 million in trading volume before being recognized as a scam and removed.
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