The price of the Solana token, SOL, has decreased by over 20% after a significant rally in December.
The decline is attributed to profit-taking by traders, as well as the movement of capital into Ethereum's token.
On 28 December, SOL's price dropped to $101.50, three days after hitting a high of $126.50, the highest level since April 2022.
The daily relative strength index (RSI) for SOL, which went above 70, signifying "overbought", in early December, suggests traders have started to cash in after the recent price surge.