Bitwise CIO: Solana's monthly decline has reached 42%, and the market is digesting the decline of the Meme coin craze

Odaily News Matt Hougan, chief investment officer at crypto asset management firm Bitwise, noted that Ethereum prices have fallen 23% in the past month, while Solana, the token that hosts most of the Meme coin blockchain, has fallen 42%. Cryptocurrencies are currently digesting the end of the Meme coin craze, and the market will continue to be dragged down until institutional interest in cryptocurrencies recovers. In addition, traders are increasingly frustrated that Trump has not implemented some of the reforms he promised during the campaign more quickly, and market sentiment has turned to disappointment as the introduction of major pro-cryptocurrency policies has been slower than expected. (FT)