Solana’s price has experienced a dramatic decline, dropping by 15% in a single day as the global trade war sparked market volatility. Analysts are warning of potential losses reaching down to $60, which would represent a significant 40% drop from current levels. The recent downturn follows a major token unlock and selling spree among whales earlier this month, adding to the pressure on the cryptocurrency’s value. 2023 started with a surge in price, fueled by hype around Trump-themed meme coins, but a subsequent market correction has hit Solana hard. Experts like Ali Martinez predict that if SOL falls below $114, it may plunge even further to as low as $60 – a sharp drop of 40%. Crypto analyst Crypto_Jobs suggests that the price could find support at around $68-$70. 2023’s downturn in Solana is also connected to declining TVL (total value locked) and trading volume, both indicators suggesting low user engagement and diminished confidence among traders. The crypto market’s recent crash has seen a significant decrease in the total value locked (TVL) for Solana, indicating a decline in user activity and trader confidence. This drop follows the largest single-day unlock of staked SOL tokens earlier this month, resulting in increased circulating supply. This release, coupled with the broader market downturn, has triggered panic selling among smaller investors, fueling the price fall.