Solana (SOL): Downtrend Continues
Solana, the blockchain champion who is known for his fast processing, is also affected by the sluggish market. The current price as of July 4, 2024 at 16:30 according to the Coinmarketcap website in the graph above is $134,222, down 4% from yesterday. But make no mistake, a year ago the price was only $20, you know. This means that in a year it has increased by 643%! Not bad, right?
But here, in the last 24 hours, many Solana traders were hit. A total of $11.10 million of positions were subject to liquidation. Long positions were hit the most, with $8.54 million lost. Meanwhile the short position was 'only' $2.56 million floated.
So, for those holding Solana, the situation is a bit complicated. On the one hand, if you look back a year, the profits were really big. But if you look at the current trend, the price continues to fall. The question is: is it still worth it to hold Solana? Or is it time to take profits before the price drops further?
What is clear is that playing crypto is like riding a roller coaster. Sometimes it makes you nervous, sometimes it makes you happy. For those of you who still want to play on Solana, remember: don't play with money you can't afford to lose. Always update the latest information, and don't forget to diversify your investments. Don't put all your eggs in one basket!
