SOL, FTT, and LINK Suffer Despite Growing Interest From Investors

Santiment, the blockchain analytics platform, revealed in an X post yesterday that there has been a growing interest in Solana (SOL), FTX Token (FTT), and Chainlink (LINK). Other noteworthy assets included in the top 10 list of the highest trending digital assets include Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).

SOL, FTT, and LINK all experienced sharp drops over the past 24 hours of trading, according to the cryptocurrency market tracking website, CoinMarketCap. Of these three altcoins, FTT suffered the most as it recorded a 17.45% drop during the last day of trading. Subsequently, the native cryptocurrency of the collapsed FTX exchange was trading hands at $3.23.

SOL’s 24-hour loss of more than 10% resulted in its price standing at $59.18 at press time. Although the Ethereum-killer token underwent a strong correction, its weekly performance was still well in the green zone. CoinMarketCap data indicated that the altcoin’s price was up 25.31% over the past 7 days.

Meanwhile, LINK recorded a 6.49% 24-hour loss. This brought its price down to $13.95. Notably, the drop in the cryptocurrency’s price throughout the last trading session was enough to flip its weekly performance from positive to negative as well, knocking it down to -2.81%.

The market leaders BTC and ETH were unable to withstand the wave of sell volume from traders, and both suffered fair 24-hour losses. The largest cryptocurrency in terms of market cap was trading at $36,389.87 after dropping nearly 3%. Similarly, ETH saw its price drop 3.68%, dragging it down to $1,981.18.

Daily chart for DOGE/USDT (Source: TradingView)

Interestingly, the leading meme coin DOGE was able to break away from the pack and recorded an impressive 7+% gain over the past 24 hours. This added to the cryptocurrency’s weekly performance as well, which stood at +10.67% following the latest increase in DOGE’s price. Overall, the meme coin was trading at $0.08245.