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Solana Drops Nearly 5% to $150 in 24-Hour Trading

Solana Drops Nearly 5% to $150 in 24-Hour Trading

Solana’s price declined sharply below $140, registering its worst single-day drop in weeks amid high selling pressure and ongoing token releases from the FTX bankruptcy estate.

SOL

Fact Check
The assessment is based on strong, consistent evidence from multiple authoritative sources. Three highly relevant sources from Yahoo Finance, TradingView, and Brave New Coin directly and repeatedly confirm the core element of the statement: that Solana's price recently fell to and tested the $150 level. The TradingView source mentions price extending "losses below $150," and the Brave New Coin title explicitly states "SOL Tests $150 Support," which provides unambiguous confirmation. Furthermore, the Cryptopolitan source corroborates this with a reported price fall to $153, which is consistent with "approximately $150," and also provides evidence for the "24-hour period" by referencing a "1-day chart overview." The only part of the statement not explicitly confirmed by the source summaries is the exact "5%" decrease. However, given that all other critical components (the asset, the price decrease, the target price, and the timeframe) are well-supported by credible evidence and there are no contradictions among the relevant sources, the overall statement is very likely true. The one irrelevant source, a currency converter, was correctly identified and disregarded in the analysis.
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Summary

Solana’s price fell 10.40% over the past 24 hours to under $140, according to HTX market data, extending a significant downtrend from earlier in the week. The recent slide follows persistent selling pressure linked to Alameda Research’s release of SOL tokens from the FTX bankruptcy estate, with over 8 million tokens distributed since November 2023. The breach of key support levels has deepened losses despite strong institutional interest, including hundreds of millions in weekly ETF inflows from major investors such as Rothschild Investment, PNC Financial, and Grayscale.

Terms & Concepts
  • Solana: A high-performance blockchain platform designed for decentralized applications and crypto projects.
  • ETF inflows: Net investment capital entering exchange-traded funds, indicating investor demand for the fund’s underlying assets.
  • Token unlock: The scheduled release of previously locked cryptocurrency tokens, often from vesting contracts or institutional holdings, into circulation.