Will the Solana price below $ 100 will be disrupted amid the FTX opening at a value of $ 430 million?

Since the beginning of the year, Solana (Sol) was on a turbulent trip. Initially, it rose to a new ATH, but it decreased by 53 % amid a broader market correction and fights for recovery. Although yesterday was a great recovery, the trend changed again, which led to another step and more risks. With the dismantling of millions of Sol FTX/ Alameda, the distinctive symbol is one step from another accident. Will it decrease to less than $ 100? Let’s discuss this.

Solana Price broke down: What is happening today?

Today it coincides with another troubled day, and the entire encryption market is witnessing a crash, including Solana Price. It is currently trading at $ 128.14 after a decrease of 19 % in the past 24 hours. The market value and trading volume are 70.16 billion dollars after a decrease of 19 % and 9.56 billion dollars after a 24 % decrease.

Interestingly, this decrease is that the customs tariff for Mexico and Canada enter into force. However, the most worrying thing is that this decrease came after an impressive gathering in the Sol PRICE fueled by the US Donald Trump strategic reserve.

While investors expected to take more upward trend, and may reach $ 200, the Sol price, with FTX and Alameeda 3.03m Sol, is dismantled, equivalent to $ 431.3 million.

UNSTAKE FTX event and its effect on Sol

With the start of the exchange of encryption in the redistribution of the money affected by FTX, the market is witnessing millions of symbolic opening, which affects its price. The company recently made 3.03m so ($ 431.3 million) and transferred it to multiple encryption portfolios.

24,799 Sol ($ 3.38 million) has already been deposited to exchange Binance, which led to the liquidation of the original. More importantly, many similar openings will come in April and the next month, which pumps fear in the market.

This is because the great distinctive symbol often affects the feelings of investors and causes price fluctuations. Since the encryption market is already under pressure, investors wonder whether Solana may disrupt less than $ 100.

Why is the price of Solana less than $ 100?

Today’s performance shows high signs of volatility, factors such as investor feelings, decreased network performance, cancellation of the distinctive symbol, and the wider market conditions is responsible. However, given the Sol gathering yesterday and the feelings of the market, the Solana price may not be suspended to $ 100 despite the difficulties.

This ALTCOIN grew to $ 177.88 yesterday and witnessed high trading volume and open benefits, and offered the interest of the higher investor. This explains the capabilities of the distinguished code for healing even in the harmful market conditions.

Although Sol is on the enormous liquidation lips, a $ 100 collision accident is unlikely. According to Coinglass data, 300 million dollars will liquidate the price of Sol to 127 dollars. This may initially lead to a decrease to $ 120, but a decrease may occur, which makes a decline in less than $ 100 unlikely.

Finally, Bitcoin prices can be prevented from this decrease. Historical data reveals that BTC has climbed this month since the past four years, and the same may also happen this year, which helps Altcoins recovery.

Conclusion: severe correction, but no collapse

Despite the rise and downs, Solana’s position in the encryption market is prominent. Although the FTX opening worth $ 431.3 million puts great pressure in the declining direction on the price, the current analysis is witnessing support at $ 120.

Consequently, the low price of the Sol to $ 100 is unlikely, but due to the filtering data, it may decrease about 120 dollars. Investors must consider the level of liquidation, whale data and bitcoin price movement to better understand Solana prices.

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Bouja Khargia

With a deep -rooted passion for reading and five years experience in writing the content, POOJA is now focusing on formulating content direction around the cryptocurrency market. As a dedicated encryption journalist, Poja is constantly looking for topics and media statistics to create convincing pieces for encryption lovers. Staying in view of the latest trends and progress in this field is an integral part of its daily routine, which provides a commitment to provide time in time and insight.

Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.