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Solana Community Considers Forking to Avoid SEC Regulatory Issues

The Solana (SOL) token has experienced a significant drop in price, losing around 30% of its value in the last seven days. This is due to the US Securities and Exchange Commission (SEC) classifying SOL and other altcoins as securities in its lawsuits against Coinbase and Binance US.

The Solana Foundation has responded to the SEC's classification, stating that it strongly believes SOL is not a security. Some members of the Solana community are considering the possibility of forking the blockchain to avoid regulatory issues with the SEC, although there is no specific plan in place yet. The SOL price is currently trading at $15.15 and is in oversold territory, with a potential for recovery.

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