Solana
Why Solana is down 1.6% today
Analysis
Solana (SOL) slipped 1.6% over the past 24 hours as traders weighed signs of rising selling pressure despite constructive ecosystem headlines. BeInCrypto noted factors SOL may need to absorb increased sell-side pressure, which likely kept near-term sentiment cautious.
Contributing Factors (3)
Active Solana addresses spike 115%, four in 10 merchants take Bitcoin: Month in Charts
Activity on Solana has spiked as new AI tech makes it easier than ever to launch memecoins. Meanwhile, Ethereum is plugging away at future-proofing and bringing down fees.
21Shares launches first Jito staked Solana ETP in Europe
The product offers exchange-traded exposure to JitoSOL with staking rewards embedded, as liquid staking ETFs remain under review in the United States.
What Factors Could Help Solana Absorb Rising Selling Pressure
Solana (SOL) has dropped below $120 amid continued capital outflows. As investors become increasingly cautious, the key question is what Solana can offer to convince holders to stay. Several recent de...
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.