Bitwise CIO: Solana's monthly decline has reached 42%, and the crypto market is digesting the retreat of the meme coin craze

ChainCatcher news, according to the Financial Times of the UK, Bitwise Chief Investment Officer Matt Hougan pointed out that Ethereum's price has dropped by 23% in the past month, while Solana, which hosts most of the meme coin blockchains, has fallen by 42%. The cryptocurrency market is currently digesting the end of the meme coin craze, and it will continue to be dragged down until institutional interest in cryptocurrencies recovers.

Additionally, traders are becoming increasingly frustrated as Trump has not implemented some of the reforms he promised during his campaign more quickly. The slower-than-expected rollout of significant pro-cryptocurrency policies has led to a shift in market sentiment towards disappointment.