Solana Decreases More Than 8% Within 24 hours
Portfolio Pulse from Benzinga Insights
Solana's (CRYPTO: SOL) price has decreased by 8.35% in the last 24 hours, reaching $67.43, despite a 12.0% gain over the past week. The trading volume has increased by 51.0%, while the circulating supply has slightly decreased by 0.2%. Solana's current market cap ranking is #6 at $28.82 billion.

December 11, 2023 | 3:00 pm
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NEGATIVE IMPACT
Solana (SOL) experienced a significant price drop of 8.35% over the past 24 hours, despite an overall increase in the past week. The market cap remains strong at #6, with increased trading volume and a minor decrease in circulating supply.
The short-term impact on SOLUSD is negative due to the substantial 24-hour price decrease. However, the increased trading volume suggests heightened investor interest, which could mitigate the impact. The slight decrease in circulating supply may support the price in the longer term, but the immediate effect remains bearish.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100