Ethereum

Solana

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-investors-monitor-price-fluctuations/" data-wpel-link="internal">Solana Investors Monitor Price Fluctuations</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/significant-fluctuations-in-major-cryptocurrencies-including-solana/" data-wpel-link="internal">Solana</a></strong> experienced a notable rise from May 15-22, followed by a visible decline, causing investor concern. This stagnation suggests potential price movement in either direction in the coming hours due to increased influence from both bulls and bears. Additionally, Solana reached a peak performance level of $187.39 in March but subsequently pulled back.</p> 
<h2 style="text-align: justify" id="why-is-solana-s-price-dropping">Why is Solana’s Price Dropping?</h2> 
<p style="text-align: justify">In Solana’s price analysis, a decline occurred following rumors of ETH’s ETF approval. Bloomberg analysts previously raised the ETF approval chance from 25% to 75% based on SEC <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a>, leading to Solana’s price dropping to $163.38.</p> 
<p style="text-align: justify">Following this period, SOL’s price rebounded and, as of writing, is trading at $168.42 after a 1% rise. During this time, SOL’s market cap rose to $75 billion, while the 24-hour trading volume fell over 50% to $2.5 billion.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-355657" src="https://coin-turk.com/wp-content/uploads/2024/05/solana-coin-grafik-yorum-coin-turk-com.png" alt="" width="2433" height="1145"></p> 
<p style="text-align: justify"><strong>Ethereum</strong> ETF approval led to developments among Solana PoS validators. Between May 20-24, a staking frenzy caused the unstaking of 3.5 million Solana tokens. These unstaked SOLs are currently valued at over $594 billion, with the remaining staked SOLs limited to 365.3 million.</p> 
<p style="text-align: justify">Historically, such a decrease in staking levels has led to temporary instabilities in Proof Of Stake networks.</p> 
<h2 style="text-align: justify" id="what-s-next-for-solana">What’s Next for Solana?</h2> 
<p style="text-align: justify">Solana appears to have entered a correction phase following an overbought period earlier this week. The Ethereum ETF approval led to selling pressure on Solana, causing a price drop.</p> 
<p style="text-align: justify">However, Solana’s price has been rising since yesterday. This rise may become more notable once the uncertainty surrounding the Ethereum ETF is fully resolved.</p> 
<p style="text-align: justify">Meanwhile, crypto whales and institutional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are commenting on a potential Solana ETF, considering its demand and status as one of the largest cryptocurrencies following Bitcoin and Ethereum.</p> 
<p style="text-align: justify">Analysts suggest Solana may experience a pullback before potentially rising to $216 in the future.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solana-investors-monitor-price-fluctuations/" data-wpel-link="internal">Solana Investors Monitor Price Fluctuations</a></h5>

Solana Investors Monitor Price Fluctuations

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