SOL price drops to 5-month low levels while the ecosystem opens its “Embassy” in Miami
According to information Provided by CoinMarketCap (CMC), the price of Solana (SOL) has dropped to a five-month low while the “Solana Embassy” opens its doors to the public in Miami, Florida.
SOL — the ninth-largest cryptocurrency with a market cap of around $10 billion — is trading at $28.2 at the time of writing, down almost 5% in the past 24 hours, per CMC data. The last time Solana touched the $28 mark was in mid-June this year.
It’s not just the price of SOL that has been going down lately. Similarly, according to CryptoSlam, Solana’s non-fungible token (NFT) sales have been seeing a decline since October 10. information, NFT sales for the so-called “Ethereum killer” have dropped to nearly $1.5 million, a nine-month low.
As previously reported by U.Today, Solana has been criticized for its persistent outages throughout the year. This rose a very negative sentiment toward the Solana ecosystem, Santiment data earlier this month.
finally some good news
While the price of SOL has been bad news for investors, Solana fans can now visit “The Solana Embassy” in Miami. According to Thursday’s announcement, the new venue will be “more than just a store,” featuring “a classroom, cultural center, lounge, nightclub and store.”
Per the thread, Solana plans to build similar embassies in other countries as well. These locations can also be used for business meetings.
