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Solana, the cryptocurrency backed by fallen crypto mogul Sam Bankman-Fried, tumbled on Wednesday amid concerns that large holders may be about to offload the token.
Solana dropped as much as 12% on Wednesday and was trading 8.8% lower as of 8:40 a.m. in London. Other tokens saw modest declines, with Ether slipping 1.3% and Bitcoin down 0.3%.
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