crypto vault anish
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Bullish
🚨Why The Solana Price Is Dropping:-)
$SOL
CoinMarketCap data shows that the Solana price is down almost 5% today and at risk of dropping below $180. Crypto analyst Ali Martinez revealed one possible reason for this price decline in an X post. The analyst stated that the number of wallets holding more than 100 SOL has declined by 2.24% over the past two weeks, dropping from 154,653 to 151,184.
This indicates that some Solana whales have been offloading their coins, contributing to Solana’s price decline. As CoinGape reported, the meme coin launchpad Pump.fun recently offloaded 148,759 SOL, worth just over $28 million at the time.
The Solana price has also dropped due to a decrease in decentralized exchange (DEX) activity on the network. DeFiLlama data shows that there has been a 24% decline in DEX volume on Solana. This is likely a result of the rotation of capital from Solana to the BSC network, whose meme coin ecosystem again looks to be thriving. For context, further data from DeFiLlama shows that DEX volume on BSC has surged by almost 50% in the last seven days.
#MileiMemeCoinControversy
#GeopoliticalImpactOnBTC
#AIandStablecoins
#CardanoETFTalk
#BNBChainMeme
$SOL
CoinMarketCap data shows that the Solana price is down almost 5% today and at risk of dropping below $180. Crypto analyst Ali Martinez revealed one possible reason for this price decline in an X post. The analyst stated that the number of wallets holding more than 100 SOL has declined by 2.24% over the past two weeks, dropping from 154,653 to 151,184.
This indicates that some Solana whales have been offloading their coins, contributing to Solana’s price decline. As CoinGape reported, the meme coin launchpad Pump.fun recently offloaded 148,759 SOL, worth just over $28 million at the time.
The Solana price has also dropped due to a decrease in decentralized exchange (DEX) activity on the network. DeFiLlama data shows that there has been a 24% decline in DEX volume on Solana. This is likely a result of the rotation of capital from Solana to the BSC network, whose meme coin ecosystem again looks to be thriving. For context, further data from DeFiLlama shows that DEX volume on BSC has surged by almost 50% in the last seven days.
#MileiMemeCoinControversy
#GeopoliticalImpactOnBTC
#AIandStablecoins
#CardanoETFTalk
#BNBChainMeme
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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