Solana
Why Solana is down 2.9% today
Analysis
Solana (SOL) slipped 2.9% over the past 24 hours as risk sentiment around the ecosystem was pressured by news that Solana neobank Avici was hacked for about $650,000, with its token plunging 40%—a headline that can spill over into broader SOL selling despite being project-specific (BeInCrypto). Positive catalysts, including reports that Charles Schwab plans to add SOL to its crypto trading platform (The Block) and that Solana’s network inflation is set to drop (Decrypt), may have helped limit the downside but didn’t fully offset the negative security news.
Contributing Factors (3)
Solana Neobank Avici Hacked for $650,000. Token Crashes 40%
An Avici exploit drained $652,000 from Solana card vaults the company said only users could touch. AVICI fell 44%. The post Solana Neobank Avici Hacked for $650,000. Token Crashes 40% appeared first o...
Charles Schwab to add Solana, Avalanche and Chainlink to crypto trading platform
Schwab Crypto began rolling out to clients in May with direct access to BTC and ETH trading and charges 75 basis points per transaction.
Morning Minute: Solana Jumps with Network Inflation Set to Drop
Two majors proposals are set to pass, its leading DATs are back, and Schwab is offering SOL to its clients—quite the setup for Solana.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.