Altcoin market capitalizations have fallen by more than $200 billion since mid-August, with over 70% of altcoins trading below their 200-day moving average. The decline has been amplified by macroeconomic uncertainty, rate increases by the Federal Reserve, the European Central Bank and the Bank of England, as well as weakness in equity markets. Solana’s tokenized real-world asset market reached a record capitalization of $4.80 billion, including $3.70 billion in tokenized funds, $1.10 billion in tokenized stocks and $31.90 million in tokenized commodities. Traders are betting on the growth of this market to mitigate SOL’s downside risk, with the token trading at $89, or 9.75% below its 200-day moving average.
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