Solana (SOL) has taken a hit and was earlier today trading for below $100 per coin.

CoinGecko data shows that the asset is also now no longer the fourth biggest cryptocurrency by market cap after having jumped briefly above Binance’s BNB earlier this week.

The price of SOL now stands just below $100, a 7% 24-hour dip, according to CoinGecko.

Still, the Ethereum competitor is up nearly 15% over a seven-day period—and over the past month it has jumped by 78%.

Renewed investor interest in SOL means that it has been the best-performing cryptocurrency since November.

Some market observers expected the coin, which runs on the advanced open-source blockchain used by developers to build apps, would suffer following the trial of FTX founder Sam Bankman-Fried last month. His criminally mismanaged digital asset exchange was heavily invested in the protocol.

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Author: Mathew Di Salvo

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