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CryptoIntelligence 2024-04-06 07:22:24

SOL Plunges 9.25% to Hit Two-Week Low Amidst Crypto Market Downturn

Solana‘s price witnessed a sharp downturn today, plummeting by 9.25% to hit its lowest point in two weeks at $168. This decline aligns with a broader negative trend in the cryptocurrency market, which experienced an overall decrease of 3.8% on April 5. Among the key reasons contributing to SOL’s price drop is skepticism surrounding the Federal Reserve’s potential interest rate adjustments and reports highlighting transaction failures on the Solana blockchain. Recent data from Dune Analytics revealed a notable surge in memecoin transaction failures on the Solana network, with over 75% of non-vote transactions failing on April 4, marking the highest

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