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<h2 id="header-0">Prices for Solana (SOL) have decreased by more than 94% year to date. Arthur Hayes emerged to offer his opinion on the circumstance.</h2><p>As the total market value falls below the critical $800 billion threshold, the collapse of the global crypto economy continues. Over the course of the year to date (YTD), the prices of the two major cryptocurrencies, <a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" rel="noopener noreferrer nofollow">Bitcoin </a>(BTC) and <a href="https://www.coingabbar.com/en/crypto-currency/ethereum-eth-prices-usd" rel="noopener noreferrer nofollow">Ethereum </a>(ETH), have fallen by staggering 65% and 68%, respectively. However, 2022 has turned out to be the worst year for Solana (SOL).</p><h3 id="more-drops-from-solana">More drops from Solana?</h3><p>Prices for <a href="https://www.coingabbar.com/en/crypto-currency/solana-sol-prices-usd" rel="noopener noreferrer nofollow">Solana </a>have decreased by almost 94% year to date. SOL&#39;s market price at the beginning of the year was $172. But as of the time of this writing, Solana is trading at an average price of $9.98. This is regarded as a significant decline for the dominant cryptocurrency. SOL has emerged as one of 2022&#39;s greatest losers.</p><p>Co-founder of the cryptocurrency exchange BitMEX, Arthur Hayes, publicly addressed the problem. Even &#34;Solana,&#34; he claimed, is a total and total piece of sh*t. He continued by saying that if the mainstream financial press is pounding on it, it will eventually be a buy.</p><p>Nothing ever rises or falls in a straight line, Hayes said.</p><p>However, within the last 24 hours, the price of SOL has decreased by another 12%. Additionally, its 24-hour trading volume has increased by a staggering 158%. the amount to be $397 million. It still has a market value of more than $3.6 billion.</p><h4>Community is quitting SOL?</h4><p>According to CoinGabbar, the conflict over the Solana blockchain has intensified since FTX&#39;s demise. Over the previous eight weeks, the price of SOL has fallen by more than 73%. However, Solana is losing NFT projects and Validators to other blockchains.</p><p>Two of the most significant NFT projects on the Solana blockchain, DeGods and Y00ts, both announced they were moving to the Polygon and Ethereum ecosystems, respectively.</p>

Solana is described as a "Shitcoin" by Arthur Hayes

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