Solana's SOL fell to its lowest price in 28 days on Nov. 10, with a loss almost twice bitcoin's in percentage terms. U.S. Solana exchange-traded funds also recorded net outflows on Nov. 6 and Nov. 9.
Solana's SOL fell to $82.37 on Coinbase on Nov. 10, its lowest price in 28 days. The slide extends a four-week decline that has left holders with almost twice bitcoin's percentage loss.
SOL trails bitcoin and ether over four weeks
Through the close of the minute that set the low, SOL had fallen 22.9% over 28 days, compared with 12.1% for bitcoin and 19.2% for ether. Those figures are The Defiant's calculations using Coinbase's dollar pairs and identical endpoints.
The losses came during a broader retreat. The aggregate crypto market capitalization fell about 12.7% over the same four weeks, to $2.44 trillion, according to CoinMarketCap data. That measure includes changes in token supply, so it does not represent the return of an investable price index.
SOL tracks ether over the past week
The new low sits below the level SOL reached when it briefly broke below $90 late on Nov. 3, despite a recovery in between. Over the seven days to Nov. 10, SOL and ether each lost about 11.7%, while bitcoin declined 5.4%. SOL's recent weakness therefore tracked ether more closely than bitcoin, even as its four-week loss stayed larger than both.
Withdrawals also continued from U.S. Solana ETF products. Farside Investors' tracker recorded net outflows of $24.2 million on Nov. 6 and $7.7 million on Nov. 9. The Nov. 9 figure remained provisional, because the tracker still showed an unreported entry for TSOL.
Source: The Defiant
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