Core

Solana

Drops

<p>The post <a href="https://coinpedia.org/crypto-live-news/meme-tokens-drain-solana-price-drops-20-as-investors-flee-core-ecosystem/" rel="noopener noreferrer nofollow">Meme Tokens Drain Solana: Price Drops 20% as Investors Flee Core Ecosystem</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Solana (SOL) is facing uncertainty as its price, currently around $128, has dropped by 20% over the past 11 days. A key reason for this decline is the flood of meme token launches on the platform, which coincided with Solana’s price stagnation. Instead of driving user engagement and boosting transactions, these meme tokens drained focus and funds from Solana’s core ecosystem. As a result, the influx of low-utility tokens has weakened Solana, diverting investment away from more meaningful, long-term projects.</p>

Meme Tokens Drain Solana: Price Drops 20% as Investors Flee Core Ecosystem

CoinPedia News

Other articles published on Sep 4, 2024

Penpie DeFi Protocol Hacked, $27M in Crypto Stolen

Justin Sun’s SunSwap Burns Over $8M Worth of SUN Tokens

BREAKING: After SEC, CFTC Issues an Order Against an Altcoin

Ripple CEO Brad Garlinghose Announced Good News! "Coming Within Weeks!"

Ripple Announces Smart Contracts for XRP Ledger, Expanding Features for NFTs, AMMs, and DEXs

Worldcoin Privacy Concerns in South Korea Addresses at Tools for Humanity CPO

Join our free newsletter for daily crypto updates!