Solana Price Plummets Amidst Economic Uncertainty and SEC Delay

Investor sentiment regarding Solana has taken a downturn as concerns about global economic instability and upcoming US political developments intensify. The Securities and Exchange Commission (SEC) has officially acknowledged Fidelity’s application for a Solana-based exchange-traded fund (ETF), triggering a 280-day review process that is likely to weigh on SOL prices. The cryptocurrency’s price continued its downward trend early Friday morning in the Asian markets, dropping by over 3% amidst increasing bearish pressure.