<ul><li>Solana's native token (SOL) and total value locked (TVL) have both dropped over 40%, reflecting a major decline in usage and investor confidence.</li><li>Over US$1 billion in assets left the network in three months, mostly migrating to Ethereum and newer blockchains like Sui and Base.</li><li>The memecoin market on Solana plummeted more than 60%, with Pump.fun's recent hack amplifying losses and damaging trust further.</li><li>Solana's native cryptocurrency, SOL, is trading below US$137 (AU$219), representing a 52% drop from its all-time high of US$295 (AU$474) on January 19.</li></ul>

SOL Plunges as Solana TVL Drops and Pump.fun Launches Down

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