Nigeria, March 5 -- Solana (SOL) has shown tenacity, rising to trade at over $144 on Wednesday, representing a roughly 7% recovery in just one day.

This increasing trend comes after a sharp 15% decline from recent highs, highlighting the cryptocurrency market's intrinsic volatility.

Large-scale profit-taking, macroeconomic environment changes, and Solana ecosystem advancements are all contributing reasons.

Profit-Taking Causes a 15% Drop

According to on-chain statistics, a large profit-taking event mostly caused the recent price decline. Solana's "Realised Profit" indicator reached an hourly value of $257 million on Monday, according to Glassnode data.

This spike followed Bitcoin's ascent above $180, which was sparked by President ...