Solana drops to $107 as selling pressure outpaces Bitcoin

During a session dominated by selling pressure in the cryptocurrency market, losses in major assets spread across the board. Starting the day below its previous close of $111.24, Solana recorded a daily decline of 3.40% to fall to the $107.45 level.

What levels did Solana see in intraday trading?

Fluctuating between $107.80 and $113.14 throughout the session, 24-hour trading volume for Solana stood at approximately $2.6 billion. While no direct catalyst on a network or project basis stood out in the session's overall data flow, the price movement accompanied the general weakness in risk appetite across the market.

How did the balance between Bitcoin and altcoins take shape in the crypto market?

Losses were also seen on the front of Bitcoin, the market's largest asset, but the rate of decline remained more limited. After finishing the previous session at the $83,673.01 level, Bitcoin fell with a daily loss of 1.50% to the $82,414.95 level. Trading between $82,371.73 and $84,230.83 during the day, Bitcoin's 24-hour trading volume was approximately $22.9 billion. Thus, the decline in value in Solana exceeded 2 times that of Bitcoin.

In other developments in the market, cryptocurrency exchange Binance made its free artificial intelligence trading tool available to the general public following the completion of a test phase with 150 thousand users. The exchange reported that the tool adapts market data and trading features to users' experience levels, and that new language options continue to be added.

This content is for information purposes only and does not constitute investment advice.