Solana was founded by former Qualcomm, Intel, and Dropbox engineers with technology and computing backgrounds. The Solana ICO took place in March 2020. Solana managed to raise $25,660,000 by accepting both USD and USDC during the ICO.
SOL is down 2.55% in the last 24 hours. The SEC filed lawsuits against Binance and Coinbase, claiming that many altcoins are unregistered securities, and some of these altcoins have declined since then. One of these altcoins is SOL. SOL is down about 20% in the last 30 days. Solana’s DEX volumes also suffered a decline. Messari data revealed that Solana’s TVL to market cap ratio fell by 20% after the news of the SEC lawsuits. Development activities on Solana have also decreased significantly in the last few days.
