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Title: Solana’s Price Dips Below Realized Cost Basis: First Time in 3 Years
Solana has taken a significant hit as its price has dropped below its realized cost basis for the first time in three years. This is not only an alarming signal for traders and investors but also highlights the growing uncertainty surrounding the cryptocurrency.
The recent transaction by a whale, which involved selling 108,688 SOL for $12.2 million USDC at a price of $112.3, is a stark reminder of the significant losses that large holders are experiencing. This massive sale of tokens, which resulted in a loss of approximately $7.48 million, has had an impact on market sentiment.
Despite this downturn, Solana’s future still hangs in the balance. The debate surrounding an inflation rate proposal could potentially help stabilize the price of SOL by reducing the annual inflation rate by as much as 80%. This move would curb the supply of newly validated blocks and limit the number of new tokens entering circulation.
The proposal has not been finalized yet, but its implications are far-reaching. Any potential impact on the Solana ecosystem will be closely monitored by market participants.
Source: https://nulltx.com/solanas-price-dips-below-realized-cost-basis-first-time-in-3-years/
