SOL, the native token of the Solana network, is one of the worst-performing cryptos in recent days. Once the darling of the meme coin crowd, the popular blockchain is facing its toughest test yet with its massive price drop and dip in network activity. SOL is currently trading at $173, but it’s down nearly 10% from last week’s price and 15% from two weeks ago. If we zoom out on its price history, the token is down 27.5% from last month’s price. Related Reading: XRP Bulls Return—Will This Be the Breakout to $3? Last Tuesday, Solana shed 10% in 24 hours, triggering concerns among holders and long-term investors. According to on-chain data, the token drop was partly driven by the embarrassing launch of LIBRA, which is currently under investigation. LIBRA’s dump after its launch caused panic among meme coin holders, with SOL as one of its most prominent victims. Network Activity Drops 55% With Low Volume Solana’s current woes go beyond the recent price action. According to data shared by crypto analyst Ali Martinez, the chain’s activities are s ..
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