Bitwise CIO: Solana's monthly decline has reached 42%, the market is digesting the fading craze of Meme coins

Bitwise's Chief Investment Officer, Matt Hougan, pointed out that the price of Ethereum has fallen by 23% in the past month, while Solana, the token carrying most of the Meme coin blockchain, has dropped by 42%. Cryptocurrencies are currently digesting the end of the Meme coin craze. The market will continue to be dragged down until institutional interest in cryptocurrencies recovers. In addition, traders are becoming increasingly frustrated because Trump did not implement some of his promised reforms during his campaign more quickly. Due to slower-than-expected rollout of major cryptocurrency-supportive policies, market sentiment is turning towards disappointment. (FT)