Solana Continues to Slide Alongside Other Cryptos: Markets Wrap

The crypto markets had another rocky day. In the last 24 hours, Solana, fell 10.90% to $123.25 and Uniswap fell 10.58% to $19.04.


Source: Shutterstock


key takeaways

  • Total crypto market cap fell 5.29% on day.
  • The SEC may have served a Mainnet speaker a subpoena in New York Monday

Crypto markets once again experienced across-the-board losses on Tuesday with the total market capitalization at $1.82 trillion, a 5.29% decrease over the last day, according to

Major laggards in the asset class once again include Solana, which fell 10.90% in the last 24 hours to $123.25, and Uniswap which fell 10.58% to $19.04 in the last 24 hours.

$SUSHI is also continuing its seven-day downward trend this week, trading at $9.30, down -11.59%.


  • Terra ($LUNA) is trading at $26.26, declining -6.4% and trading volume at $1,293,644,271 in 24 hours.
  • Uniswap ($UNI) is trading at $19.71, shedding -7.5% with a total value locked at $4,154,251,786 in 24 hours at 4:00 pm ET.
  • DeFi:ETH is 31.8% at 4:00 pm ET.


  • Bitcoin is trading around $41,584.32 down -4.37% in 24 hours at 4:00 pm ET.
  • Ether is trading around $2,861.78, falling -5.29% in 24 hours at 4:00 pm ET.
  • ETH:BTC is at 0.068, declining -0.87% at 4:00 pm ET.


Commenting on the downward trend, Oleg Smagin, Head of Strategy at Delio, said, “The main reason [for] an ongoing correction is [a] rising dollar that has dampened both bitcoin and altcoins. The prices on the stock market, forex and the market of commodities have all been affected as traders expect the monetary support to be reduced.”

$SOL trading over the past seven days; Source: Messari


  • The Dow was down -0.15% to 33,919.
  • S&P 500 fell -0.08 to 4,354.
  • Nasdaq is up 0.22% to 14,746.
  • The VIX declined 5.25% to $24.36.


  • Brent crude was up $74.53 per barrel, up 0.81%.
  • Gold advanced 0.63% to $1,774.9.


  • The US dollar fell 0.06%, according to the Bloomberg Dollar Spot Index.

Fixed Income

  • US 10-year treasury yields 1.326% as of 4:00 pm ET.


“Since the direction of the VIX and the S&P 500 are typically inversely correlated, a top on the VIX often lines up with a tradeable low for US large cap equities,” said Nicholas Colas, co-founder, DataTrek Research.

In other news …

The SEC may have served a Mainnet 2021 conference speaker a subpoena in New York Monday. Blockworks looked into what jurisdiction US regulators could have over foreign nationals.

We are looking out for

  • Federal Reserve’s rate decision will be on Wednesday
  • Federal Reserve Chairman Jerome Powell will discuss pandemic recovery, on Friday

That’s it for today’s markets wrap. Morgan will see you back here tomorrow.

Are you a UK or EU reader that can’t get enough investor-focused content on digital assets?Join us in London on November 15th and 16th for the Digital Asset Summit (DAS) London. Use code ARTICLE for £75 off your ticket. Buy it now.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg


In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.


BUZZ holds shares of Coinbase, Robinhood and MicroStrategy


Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile


The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally


While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders


Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume


DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit