The Saros (SAROS) cryptocurrency experienced a sharp 70% price drop on August 24, falling to its lowest level since April 2025.
The sharp decline, which temporarily wiped out months of gains, has caused widespread concern among investors. Some market Watcher have even compared it to the troubled trajectory of MANTRA (OM).
Why did SAROS Token price drop so much?
To be clear, Saros is a decentralized finance (DeFi) platform built on the Solana (SOL) blockchain. It combines multiple services into a single ecosystem, including trading, Staking, yield farming, launchpad participation , and more.
Its native utility Token , SAROS, supports governance, Staking, liquidation incentives, and more. It is deployed on both Solana and Viction.
This altcoin, with a market Capital of $922 million, has been in a mostly uptrend for months and hit an All-Time-High (ATH) on August 4.
However, yesterday’s 70% crash halted this uptrend, dragging the price back to a four-month low. Market data shows that the SAROS price has dropped to $0.109, a price last seen in April.
SAROS price crash. Source: TradingViewHowever, this drop was only temporary. SAROS has since recovered and reversed its losses. At the time of writing, it is trading at $0.35, down 5.3% over the past day.
Thanh Le, founder of Saros, addressed the recent price volatility. He explained that the sharp fluctuations in SAROS were due to leveraged traders reducing their positions on centralized exchanges, causing open interest to plummet.
“Based on ongoing investigations and available data, we believe this was a market-driven adjustment, likely related to a large, highly leveraged position reducing exposure on centralized exchanges (CEXs). Prior to the volatility, open interest was around 90 million SAROS, according to exchange data, and has since dropped to around 20 million SAROS,” he said .
He stressed that neither the team nor long-term investors are selling their shares.
“Market cycles come and go, but our focus remains the same: building Saros into the liquidation of Solana. Your trust and support is what drives us, and we will continue to keep you informed every step of the way,” Le added.
However, the massive crash has caused many traders to lose money and shaken market sentiment. Data from CoinGecko shows that more than 50% of the community has a negative view of SAROS .
The volatility has drawn comparisons to OM, which suffered a 90% crash in April and has yet to fully recover.
“It will continue to decline for at least another 1-2 years… Whatever I said about OM before came true, and now whatever we said about Saros has also come true,” one analyst commented .
So this incident highlights the broader risks in the altcoin market . Although SAROS has shown some signs of recovery, the price drop has left many questioning the stability of the market. Now, the community will be watching closely to XEM how Saros overcomes this obstacle.
