Solana
Why Solana is up 1.2% in the last hour
Analysis
Solana (SOL) rose 1.2% over the past hour as sentiment improved following reports that Multicoin founder Kyle Samani is stepping back from his VC role but will continue advocating for Solana, which may have reassured some market participants about ongoing ecosystem support. The move also comes amid broader market stabilization highlighted in CryptoPotato’s market watch noting Bitcoin’s recovery, which can lift major alts like SOL in the short term.
Contributing Factors (3)
Multicoin founder Kyle Samani steps back from VC firm, will continue to advocate for Solana
Kyle Samani pledged to continue making personal investments in the crypto sector as he pursues other tech interests.
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.
Solana wins January on-chain – So why did SOL still drop 20%?
With network dominance at record levels, the price contrast is unusual.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.