Solana (Sol) was one of the cryptocurrencies President Trump nominated in his post on US strategic digital asset reserves. On March 2, President Trump addressed the true society and said that US digital asset sanctions include XRP, SOL and ADA. Despite being kept on the US digital asset reserve asset list, Sol has struggled to gain momentum over the past few months.
The Sad Strait Solana
Sol climbed to an all-time high of $293.31 earlier this year on January 19th. Ironically, the assets peaked one day before President Trump took office. Sol’s prices have fallen 51% since its January high.
Solana (Sol) has had an inactive year so far. The assets fell 1.8% on the daily chart, 1.8% on the weekly chart, 9.7% on the 14-day chart, and 18.5% on the last month. Sol has maintained several profits on the annual chart, attracting 5% since June 2024.
Sol was one of the best performing cryptocurrencies of 2024. The project’s Pump.Fun platform could be the reason for its incredible growth. The platform launched some of last year’s most successful memo coins.
Solana (SOL) has also been proven to be one of the most resilient crypto assets. Cryptocurrency prices fell below $9 after FTX collapsed in 2022. SOL has reached its highest ever high since its plunge in 2022.
Sol’s current predicament could be due to the general bearishness of the crypto market. Most assets have struggled to produce steam over the past few months. A new peak has been hit with Bitcoin (BTC). Other cryptocurrencies continue to go on small increases.
Sol could see a surge in prices once investors sentiment returned. If the US government begins to accumulate Solana (SOL) for strategic preparation, assets can obtain the bumps needed for price gatherings.
