Solana
Why Solana is down 2.2% today
Analysis
Solana (SOL) fell 2.2% over the past 24 hours amid broader crypto weakness and risk-off pressure, as major assets including Bitcoin and Ethereum also sold off, pushing some crypto treasuries “deeply underwater” (Decrypt). Selling also appeared tied to liquidation-driven downside described in reports of sharp SOL drawdowns and key support levels being tested (AMBCrypto).
Contributing Factors (3)
Solana drops 15%, hits 2-year low: Can SOL bulls hold $70?
Solana whale was fully liquidated on its long position taking $16 million total loss.
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.
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.