Solana dropped 4% in the last 24 hours along with most cryptocurrencies losing recent gains.
Solana fell from $178 to around $167 as broader crypto markets tracked Wall Street's pullback.
Bitcoin also dropped amid a security breach at Coinbase where hackers are demanding $20 million in Bitcoin.
Despite a recent climb from lows of $123, SOL is currently down 42% from January highs, with analysts suggesting a positive trend reversal in capital inflows.