 ▲ Solana (SOL) ©Coin Leaders |
Solana (SOL) suffered a price drop of 24.84% over the past 30 days, leaving investors shocked.
As a possible explanation for the decline in the price of SOL, which drained approximately $10 billion from Solana's market capitalization last week, on June 24 (local time), Crypto Bitlord, a well-known cryptocurrency influencer, reported that SOL was being investigated. There is a post that claims to have heard a rumor that they are receiving it.
According to Pinbold, CryptoBitlord, who has 328,700 “Please pray for Solana,” he tweeted.
We are hearing rumors that $SOL is under investigation and a huge case is about to become public
— Crypto Bitlord (@crypto_bitlord7) June 24, 2024
This has been brewing for weeks now and couldn't come at a worse time
If what we heard is true, start praying for Solana
According to the media, the huge amount of activity on the Solana blockchain, especially with more than 1 million new cryptocurrencies launched since April, could raise the possibility of an investigation. Solana could become the subject of an investigation by the U.S. Securities and Exchange Commission (SEC) as part of its long-running effort to determine whether various digital assets can be considered unregistered securities. However, to date, there is no clear evidence that the SEC is investigating Solana.
Solana's recent price decline has been particularly notable, with approximately $10 billion removed from its market capitalization over the past week. Based on CoinMarketCap, the price of SOL plummeted from $167 to $123.67, and fell by more than 5% again in the last 24 hours. This situation has caused great concern among the Solana community and investors.
However, Raoul Pal, a famous macro investor and CEO of Real Vision, has a rosy outlook for Solana.
On the 18th (local time) through Expressing his belief in a significant price increase of SOL in the future.
He suggested that the current price drop could be a good buying opportunity for investors looking to increase their Solana holdings.
