Solana Falls More Than 5% In 24 hours
Portfolio Pulse from Benzinga Insights
Solana's (CRYPTO: SOL) price has fallen 5.5% to $23.27 in the past 24 hours, continuing its negative trend over the past week with a 14.0% loss. The trading volume for the coin has tumbled 45.0% over the past week while the circulating supply has risen 0.56% to 404.14 million. The current market cap ranking for SOL is #10 at $9.46 billion.

July 24, 2023 | 3:01 pm
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NEGATIVE IMPACT
Solana's price has fallen 5.5% in the past 24 hours and 14.0% over the past week. The trading volume has decreased by 45.0% while the circulating supply has increased by 0.56%.
The decrease in Solana's price, coupled with a decrease in trading volume, indicates a negative sentiment among investors. The increase in circulating supply could further pressure the price as it suggests a higher availability of the coin. Therefore, the short-term impact on Solana's price is likely to be negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100