The cryptocurrency Saros (SAROS) experienced a dramatic 70% price drop on August 24, plummeting to its lowest level since April 2025.
The steep decline, which briefly erased months of gains, has sparked widespread concern among investors. Some market watchers have even drawn parallels to the troubled trajectory of MANTRA (OM).
Why Did SAROS Token’s Price Crash?
For context, Saros is a decentralized finance (DeFi) platform built on the Solana (SOL) blockchain. It combines a wide range of services into a single ecosystem, including trading, staking, yield farming, launchpad participation, and more.
Its native utility token, SAROS, powers governance, staking, liquidity incentives, and more. The token is deployed on both Solana and Viction.
The altcoin, which has a market cap of $922 million, has been on a predominantly upward trend for months and reached an all-time high (ATH) on August 04.
However, yesterday’s 70% crash hindered this upward trajectory, pulling the price shortly back to four-month lows. Market data showed that SAROS’ price dipped to $0.109, a level last seen in April.
SAROS Price Crash. Source: TradingViewNonetheless, the dip was brief. SAROS bounced back and reversed its losses. At the time of writing, it was trading at $0.35, down 5.3% over the past day.
Thanh Le, founder of Saros, addressed recent price volatility. He explained that the sharp moves in SAROS resulted from leveraged traders reducing their positions on centralized exchanges, which caused open interest to fall sharply.
He stressed that neither the team nor long-term investors sold their holdings.
Despite this, the major crash caused many traders to lose money and shook the market sentiment. CoinGecko data showed that over 50% of the community is bearish on SAROS.
The volatility has reignited comparisons to OM, which experienced a 90% crash in April and has yet to recover completely.
Thus, this incident highlights the broader risks within the altcoin market. While SAROS has shown some recovery, the price drop has left many questioning the market’s stability. Now, the community will watch closely to see how Saros navigates this setback.
The post Saros (SAROS) Faces 70% Crash: What Caused the Sudden Price Drop? appeared first on BeInCrypto.
Source: https://beincrypto.com/saros-price-crash/
