In brief
- Solana fell over 10% in the past week to $156, while Dogecoin and XRP posted sharper declines of 14% and 5%, respectively.
- Broader digital asset retreat tied to renewed macroeconomic uncertainty and rising global trade tensions.
- Muted DeFi activity, low futures volume, and shifting risk appetite are signs of weakening retail-driven momentum, Decrypt was told.
Solana slipped Monday, while XRP and Dogecoin held steady, as all three lagged behind Bitcoin over the past week.
The broader pullback in digital assets over the past week comes amid renewed investor caution, primarily driven by trade tensions and macroeconomic uncertainty.
“Sentiment in crypto is risk-off,” Strahinja Savic, head of data analytics at crypto advisory FRNT Financial, told Decrypt. “The driver of that has been this macro instability that spills over into crypto. You see these sharp sell-offs and a total reset of risk appetite.”
Savic said that sluggish lending rates on DeFi platforms and low volume for perpetual futures contracts for Bitcoin and Ethereum, among other metrics, underscored the lack of appetite for a “risky kind of retail-driven trading right now in crypto.”
Solana, the sixth-largest crypto by market value, fell more than 10% over the past week to $156, CoinGecko data showed.
Dogecoin dropped 14%, while XRP declined 5% during the same period. Bitcoin, the largest digital asset, lost 4.3% to trade around $105,000.
Ethereum was little changed over the week but remains up nearly 40% over the past month, buoyed by optimism following a recent network upgrade.
The declines come as U.S. President Donald Trump re-escalates his trade war against China and other countries, raising the possibility of slowing economic growth and rising prices anew.
The Trump administration’s tariff policies have consistently buffeted markets.
Solana rose above $180 in mid-May, part of an upswing in digital assets that occurred when inflation readings arrived milder than expected and trade rhetoric softened. Dogecoin and XRP also spiked around this time before sinking.
While Bitcoin’s dominance has risen to about 65% and is up more than 10% year-to-date, Savic said, “there’s still a lot of support for crypto in general, and that we have a U.S. government that’s embracing crypto across the board.”
Edited by Sebastian Sinclair
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