Subscribe to Bankless or sign in
'Round and 'round. Solana has dominated the charts lately, continuing to be one of crypto’s strongest-performing assets with 24% gains on the week. While the SOL token is pumping, more than a few of the ecosystem’s tokens have decided to take a break from the action. What happened to Solana alt szn?
For example, the culturecoin BONK, a token some see as a levered bet on Solana, enjoyed a burst of strength against SOL off its Coinbase debut late last week, but the BONK/SOL ratio proceeded to get crushed since then and is down 36% from its Friday close.
Demonstrating a similar pattern of weakness is LST governance token JTO, which has fallen 35% against SOL over the past two weeks after the hype surrounding the token’s launch diminished after just two short days.
Subscribe for free to continue reading
- Support the Bankless Movement
- Access to thousands of articles
- Complete archive of Bankless episodes
- Embark on free quests in Airdrop Hunter
- Daily alpha in your inbox
Already subscribed? Sign in
