The price of Solana has sharply dropped below 200 US dollars, marking a 12% decline over the past week. Despite this downturn, analysts remain optimistic due to upcoming decisions, such as the SEC’s review of Grayscale’s Solana ETF proposal on January 23, 2025. Analyst Nicolai Søndergaard suggests an ETF approval could occur in 2025.

Solaxy, a layer-two scaling solution on Solana, recently secured 9 million US dollars in funding. This development aims to decongest the Solana network by bundling transactions offline. As a result, investors are attracted by potential gains from Solaxy’s staking rewards, which feature an APY of 371%, alongside the presale price dynamics of 0.001596 USD per token.