Why Solana, Chain, and Axie Infinity Dropped Like a Rock This Week
The crypto market wasn't down across the board this week, but some of the most well-known tokens have suffered a rapid decline.
As of 8 a.m. ET on Friday morning, Solana's (CRYPTO: SOL) price was down 19.7% over the past week, Chain (CRYPTO: XCN) had fallen 33.1%, and Axie Infinity (CRYPTO: AXS) had dropped 15.9%, according to data provided by S&P Global Market Intelligence.
Solana continues to deal with the fallout of FTX and Alameda Research's collapse. The two companies were among the largest investors in Solana and that's hurting the token's value just by being associated with the blockchain. But there may be more to the story.
Source Fool.com
