Solana Falls More Than 7% In 24 hours
Portfolio Pulse from Benzinga Insights
Solana (SOL) has experienced a significant price drop of 7.25% in the past 24 hours, continuing a week-long decline of 29.0%. Despite the price drop, trading volume has surged by 303.0% over the past week, and the circulating supply has increased by 0.61%. Solana's market cap is currently ranked #5 at $60.34 billion.
August 05, 2024 | 7:02 pm
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NEGATIVE IMPACT
Solana (SOL) has seen a sharp decline of 7.25% in the past 24 hours and 29.0% over the past week. Despite the price drop, trading volume has increased significantly by 303.0%, indicating heightened trading activity. The circulating supply has also seen a slight increase of 0.61%.
The significant price drop in Solana, coupled with increased trading volume, suggests a bearish sentiment in the market. The increase in circulating supply may also contribute to downward pressure on the price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100