Solana Falls More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
In the past 24 hours, Solana's (CRYPTO: SOL) price has dropped by 4.76% to $23.15, contrasting its positive trend over the past week where it saw a 1.0% gain. The trading volume for the coin has increased by 3.0% over the past week, while the overall circulating supply has decreased by 0.22%. Solana's current market cap ranking is #10 at $9.38 billion.
August 04, 2023 | 9:20 am
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NEGATIVE IMPACT
Solana's price has dropped by 4.76% in the past 24 hours, despite a 1.0% gain over the past week. The trading volume has increased by 3.0% over the past week, while the circulating supply has decreased by 0.22%.
The drop in Solana's price, despite a positive trend over the past week, could lead to a negative short-term impact on its price. The increase in trading volume suggests a heightened interest in the asset, while the decrease in circulating supply could potentially lead to a price increase in the future due to supply-demand dynamics.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100