Solana Decreases More Than 8% Within 24 hours
Portfolio Pulse from Benzinga Insights
Solana's (CRYPTO: SOL) price has dropped 8.8% in the last 24 hours to $54.73, continuing a weekly downtrend with a 4.0% loss. Trading volume decreased by 34.0%, while circulating supply rose by 0.63%. Solana's market cap ranks #7 at $23.27 billion.
November 21, 2023 | 3:00 pm
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NEGATIVE IMPACT
Solana (SOL) has experienced a significant price drop of 8.8% in the past day, with a 4.0% decrease over the week, indicating bearish short-term momentum.
The sharp decline in Solana's price, coupled with a decrease in trading volume, suggests a bearish outlook in the short term. The increase in circulating supply without a corresponding price increase may further dilute the value, potentially leading to continued downward pressure on the price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100