Why Solana Is Plummeting Today
Solana (CRYPTO: SOL) has been giving up ground over the last day of trading. The cryptocurrency's share price was down 19.4% over the previous 24 hours as of 6:45 p.m. ET Monday.
Solana's big pullback over the stretch is partially a reaction to the explosive gains that the stock posted in Sunday's trading. But the cryptocurrency also saw sell-offs in conjunction with a potential red flag in the artificial intelligence (AI) industry and macroeconomic volatility.
On Sunday, President Trump announced that Solana would be one of the cryptocurrencies that is included in the U.S. digital asset reserve program. The project aims to create a gold-like reserve for cryptocurrencies and other digital investment and payment vehicles.
Source Fool.com
