Solana (SOL)$SOL Price Slides as Investor Interest Dissipates
Here are some recent insights on Solana (SOL) price and investor interest ¹ ² ³ ⁴ ⁵:
- Despite the recent drop in Solana's price, the cryptocurrency is still predicted to potentially reach $200.
- The open interest in Solana has grown by $150 million, reaching $2.2 billion, which is a 15% increase.
- The increase in open interest suggests that investors are positioning themselves for further price appreciation.
- The price increase may be attributed to the release of the Non-Farm Payrolls report, which has bolstered investor confidence in the crypto sector.
- However, the recent drop in Solana's price may be due to waning institutional interest, despite individual investor interest remaining strong.
Solana’s price is bearing the brunt of its investors’ pullback, which is evident in the open interest (OI) and inflows. Firstly, investors are becoming increasingly skeptical.
The shift in sentiment reflects the broader uncertainties and volatilities within the market, prompting Solana holders to adopt a more cautious approach to their investments. In the span of a week, the OI has declined by more than $500 million from $2.5 billion to $2 billion.
