Solana
Why Solana is down 8.3% today
Analysis
Solana (SOL) fell 8.3% over the past 24 hours amid broader market weakness highlighted by a report noting SOL “plunges below $100” as crypto markets reacted to shifting ETF flows and volatility even as Bitcoin stabilized. While ING’s move to let German retail clients buy BTC/ETH/SOL ETPs directly from their banking accounts is a constructive access development, it did not offset the near-term risk-off tone driving SOL lower.
Contributing Factors (3)
Solana (SOL) Plunges Below $100, Bitcoin (BTC) Recovers From 15-Month Low: Market Watch
Meanwhile, HASH and HYPE have declined the most over the past 24 hours after charting impressive gains lately.
Germans can now buy bitcoin, ether, solana products directly from their ING accounts
These crypto products receive the same German tax treatment as directly held bitcoin.
ING opens retail access to Bitcoin, Ethereum, Solana ETPs in Germany
Still, ING Deutschland noted that crypto ETPs carry significant risks and stated that crypto has no intrinsic value.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.