Solana News: Cryptocurrency Plummets 36% to $120, Recovery Hindered by Weak Sentiment and Large-Scale Sell-offs

In a turbulent market for cryptocurrencies, Solana [SOL] has experienced a significant drop, raising concerns among investors. Despite potential buying opportunities suggested by technical indicators, SOL’s recovery remains under pressure due to weak sentiment and increasing sell-side liquidity.

Solana Crashes 36% to $120; Recovery Under Pressure

Solana [SOL] has seen a significant 36% drop this month, making it the worst-performing top asset. Technical indicators such as an oversold RSI and a bullish MACD crossover suggest potential dip buying around $120. However, large-scale sell-offs, weak sentiment, and increasing sell-side liquidity are pressuring SOL’s recovery. Pumpfun, a notable seller, has transferred millions worth of SOL to Kraken, contributing to the ongoing downturn.

Solana Faces Backlash Over Gender Identity Ad

A video promoting Solana’s Accelerate conference in New York sparked widespread criticism for making fun of gender identity issues. The ad, which aired on March 17, depicted a character named “America” undergoing therapy, with the therapist recommending a focus on pronouns or new gender development over technological innovation. The character responded by stating a wish to ’invent technologies, not genders.’ The ad was quickly taken down, with critics labeling it as ’offensive’ and ’tone-deaf’.

Best Presales to Buy Right Now – Which New Coins Will 100x From Here?

The market may be in a mini bear phase, but history shows these dips are the best times to buy. Right now, many top projects are trading at a discount, and presale tokens offer an even rarer opportunity to get in before the crowd. With that in mind, Solaxy ($SOLX) is one of the best presale projects that could deliver massive upside once the market rebounds. Solaxy is redefining the Solana ecosystem by introducing its first-ever Layer 2 scaling solution, aimed at alleviating network congestion, drastically reducing transaction costs, and significantly improving scalability.

Pump.fun Revenue Plummets 95% in March 2025

Solana’s Pump.fun, a meme coin creation platform, has seen its revenue plummet 95% in March 2025. Earlier in the year, the platform was thriving with daily fee revenue reaching heights of 12,000 SOL, or $2 million. However, as of the first 18 days of March, the daily revenue has averaged at just 1,000 SOL, or $100,000. In January, the platform kicked off the new year with $14 million in revenue.