Solana
Why Solana is down 14.4% today
Analysis
Solana (SOL) fell 14.4% over the past 24 hours amid a broader crypto selloff that pushed major assets sharply lower and left some crypto treasuries “deeply underwater,” weighing on market sentiment and risk appetite. Adding to the downside pressure, AMBCrypto reported a large Hyperliquid whale opened a ~$4 million 3x SOL short, which can reinforce bearish positioning in the near term.
Contributing Factors (3)
Crypto Treasuries Fall Deeply Underwater as Bitcoin, Ethereum and Solana Dive
Prominent publicly traded crypto treasury firms are underwater on their holdings as Bitcoin and Ethereum keep falling.
$4mln Hyperliquid whale opens 3x SOL short – Trouble ahead for Solana?
Crowded long exposure leaves Solana vulnerable as bearish structure remains intact.
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.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.