SOL price trending toward yearly low as Solana TVL drops $870M in three days
DeFi contagion fears and bearish technicals mean additional downside pressure on Solana price. Solana (SOL) tumbled on June 16 amid a broader retreat across the top cryptocurrencies, led by the Federal Reserve's 0.75% interest rate hike a day before.Solana price rebound fizzlesNotably, SOL/USD plunged nearly 17% to $30 a token, wiping almost all the gains from the day before. The SOL price volatility liquidated almost $10 million worth of contracts in the past 24 hours across multiple crypto exchanges, data from Coinglass shows. SOL liquidation record since May 17. Source: Coinglass The....
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If Solend is unable to take over the account, some believe that it could cause a meltdown, driving Solana’s price to zero. Solana-based decentralized finance (DeFi) lending protocol Solend has created another governance vote to invalidate the recently-approved proposal that gives Solend Labs "emergency powers" to access a whale's wallet to avoid liquidation. On Sunday, the crypto lending platform launched a governance vote titled “SLND1 : Mitigate Risk From Whale.” This allows Solend to reduce the risk that the whale’s liquidation poses to the market by letting the lending platform access....
Solana is not lacking in positive news for its investors and crypto holders as it tries to bounce back from its lackluster performance last month. Solana is currently experiencing supply inflation SOL came 2nd next to AXL in 7-day trending searches The crypto is down by 6.3% over the last 30 days It was announced recently that the Tulip Protocol with WalletConnect was successfully integrated to the Solana network. Tulip Protocol is a decentralized application (dApp) that is said to be an efficient yield aggregator that takes advantage of the low cost and highly efficient Solana blockchain....
Anyone watching the charts recently will have noticed that Solana (SOL) has been on an impressive uptrend recently. The digital asset had grown from where it had been trending around the $88 price range and has once again made it above $100. While this is a welcome trend for the market, especially Solana investors, we […]
The 11 percent gain of Solana from its dip on September 7 comes after months of turbulent market conditions. A tenth of that may be meaningless by the time this is published. The market is currently trending upwards. The market bottomed out at $33.79 on Wednesday before falling 9.29% to $30.89. At this point, both the CCI and the Stoch RSI for SOL showed that the crypto had been oversold. While SOL was recovering over the course of eight hours, trading volume decreased from the sell-off of 1.650 million to 1.280 million. Related Reading: Ethereum Plunges 21% In Last 7 Days, Drops Below....
Solana fell for a second consecutive session on Tuesday, pushing the token to its lowest level in twelve days. The move comes as sentiment in crypto markets turned bearish ahead of tomorrow’s FOMC meeting. Near protocol was also lower, dropping by as much as 12% today. Solana (SOL) Solana (SOL) was in the red for the second day running, as prices moved closer to a key support level. On Tuesday, SOL/USD slipped to an intraday low of $35.28, which is the lowest level that the token has traded since July 14. The move pushed prices closer to a support point of $32.40, which has been in....