Date: 2025-04-03
Solana’s native token, SOL, has dropped by nearly 12.75% in the last 24 hours to a three-week low of $112.50 on April 3.SOL/USD daily price chart. Source: TradingViewKey drivers behind SOL’s sharp correction include:The latest round of tariffs from the Trump administration and their potential to erase trillions of dollars from the stock market.Negative SOL futures basis and funding rates.Multiple technical factors.Let’s examine these catalysts in detail.Trump tariffs rattle Solana and broader crypto marketSolana’s decline occurred in the wake of US President Donald Trump’s April 2, “Liberation Day” tariffs. The escalation in trade tensions led investors to move away from riskier assets, including cryptocurrencies like SOL, in favor of safer...
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