Solana Faces Liquidation Risk, But Some See Market Cleansing

Solana Faces Market Pressure: A Deep Dive into the Crypto DownturnSolana, a major cryptocurrency, is grappling with a significant market downturn, with eighty percent of its circulating supply at a loss. This top-heavy market structure could lead to panic selling, potentially triggering a major liquidation zone. If Solanas price drops below one hundred twenty-four dollars and forty cents, two hundred thirty-nine million dollars worth of long positions could be forced to close. Despite prediction markets giving Solana only a four percent chance of reaching a new all-time high by the end of the year, some analysts view this as a market cleansing, setting the stage for the next phase of accumulation. Upcoming macro events, such as the Federal Reserves interest rate decision, could introduce more volatility.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.