Solana’s price has recently tumbled to a 30-day low, reaching $139. This decline was attributed to a number of factors such as the launch of the Ethereum ETF by the United States Securities and Exchange Commission (SEC) in late May which diverted the attention of investors from other Layer-1 projects such as Solana. Even with the efforts by Solana node validators to reduce the selling pressure, the US Federal Reserve maintaining a hawkish stance with no more rate cuts also played a role in the decline. Solana’s Price Forecast and Market Positions Following the decline, there are indications that Solana’s…
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