The price of SOL is down another 11.29% in the last 24 hours. Solana was unable to stop bleeding following FTX failure. Altcoin leaving the top 20 list will be confirmation of SOL’s demise.
The price of Solana (SOL) dropped another 11.29% in the last 24 hours according to the crypto market monitoring website, CoinMarketCap. At the time of publication, SOL costs $9.95. The project believed to be the killer of Ethereum also saw its price drop by 17.71% in the last 7 days.
SOL could not stop their bleeding after the FTX failure earlier this year. This, along with several network outages this year, has made many in the crypto space wonder if the service has a future. One important aspect to keep in mind is SOL’s ranking on the CoinMarketCap list.
Since the fall of FTX, Solana has dropped out of the top ten list and is currently ranked as the 17th largest project by market capitalization. However, it is also at risk of leaving the 20 cryptos list given that there is a small gap between the market share of SOL and the market share of the rest of the projects that fall on the top 20 list. the top 20 list will be a fatal indication of the end of SOL and should be a confirmation that the work will not make the next bone the next cow.
At press time, SOL’s market capitalization is approximately $3,652,501,885. Meanwhile, the market capitalization of Avalanche (AVAX), which is 18th on the list, is estimated at $3,492,233,605. 19th and 20th on the CoinMarketCap list are UNUS SED LEO (LEO) and Wrapped Bitcoin (WBTC) with market capitalization of $3,413,487,489 and $3,055,475,782.
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