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Solana Price Rally to $300 Faces Headwinds Amid Whale’s Multi-Million Cashout
The Solana price has been on a tear lately, but the rally may be in jeopardy due to a massive cash-out by a prominent whale. In this article, we’ll take a closer look at the factors influencing the Solana market and what they mean for investors.
Just yesterday, the Solana price surged 5% to reach $227, driven largely by the broader market sentiment as Bitcoin continues its upward trajectory. However, not everyone is convinced that this rally will continue uninterrupted. One prominent whale has unstaked a significant amount of SOL coins worth millions, sparking concerns about the asset’s growth potential.
First and foremost, it’s essential to understand the current state of Solana’s technical analysis. According to Coingecko, the market capitalization of Solana stands at $108.5 billion, with 24-hour trading volume reaching a whopping $7.8 billion.
Source: www.cryptonewsz.com
