Solana Falls More Than 3% In 24 hours
Portfolio Pulse from Benzinga Insights
Solana (CRYPTO: SOL) has seen a 3.3% decrease in price over the last 24 hours, continuing a negative trend of a 7.0% loss over the past week. Despite the price drop, trading volume for SOL has increased by 8.0%, while its circulating supply decreased by 0.14%, leading to a current market cap ranking of #5 at $44.71 billion.
February 23, 2024 | 7:00 pm
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Solana (SOL) experienced a 3.3% price drop in the last 24 hours, marking a 7% decrease over the week. Its trading volume increased by 8%, and the circulating supply slightly decreased, affecting its market cap ranking.
The price drop of 3.3% in the last 24 hours and 7% over the week indicates a negative short-term trend for Solana. However, the increase in trading volume suggests growing interest or potential buying opportunities, which could mitigate the negative impact slightly. The slight decrease in circulating supply could indicate a tightening of available tokens, potentially supporting the price in the future. The overall market cap ranking remains strong at #5, indicating that despite the short-term volatility, Solana remains a significant player in the crypto market.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100