Solana Decreases More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Solana's (CRYPTO: SOL) price has decreased by 3.33% over the past 24 hours to $60.41, despite a 12.0% increase over the past week. The trading volume has increased by 76.0%, while the circulating supply has decreased by 0.28%, with a current market cap ranking of #6 at $25.65 billion.
December 04, 2023 | 7:00 pm
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NEGATIVE IMPACT
Solana (SOL) experienced a 3.33% price drop in the last 24 hours but has seen a 12% increase over the past week. The trading volume has surged by 76%, and the circulating supply has slightly decreased.
The short-term price impact for Solana is negative due to the recent 3.33% decrease in price. However, the increased trading volume suggests heightened investor interest, which could mitigate some of the downward pressure. The decrease in circulating supply is typically a positive signal for price, but it seems to have been overshadowed by the price drop in this instance.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100