The post Solana Dump By Binance Sparks Concern Over SOL Price Dip To $100K appeared on BitcoinEthereumNews.com.

The crypto industry has plunged into another severe slump, with its total market capitalization plummeting to $3.13 trillion- a decline of 0.84%. As a result, top assets are witnessing substantial losses. In line with the trend, Solana has experienced severe declines, with the SOL price decreasing by more than 35% over the last 30 days. Notably, Solana’s current dip is driven by Binance’s massive SOL selloff. Adding to the momentum, analysts predict that the SOL price could further plunge to $100. Will SOL Price Plummet to $100? Here’s What You Should Know Currently, Solana is trading in the red zone, marking a decline of 6.69% in a day. As the token is now trading below $160, there is a possibility that the SOL price could fall to $100. For instance, analyst Crypto Beast alerted investors and traders against Solana’s potential slip to $100 via his X post. Notably, $154 is identified as a critical support level for the SOL price. If Solana breaks past the level, SOL could reach a significant high of $340. However, as per the prevailing sentiment, a failure to maintain the support level is more likely, which could pull the price down to $100. What Does Binance’s SOL Dump Signify? In a surprising development, crypto exchange Binance has been dumping massive amounts of Solana over the last few hours. Through Wintermute, Binance sold about 100,000 SOL, worth around $15.6 million, fueling concerns within the community. While the community is drawn between the thoughts of a possible bullish rally or an imminent bearish turn, analyst Crypto Jessica wrote, “Does this massive withdrawal signal bullish confidence or preparation for a market shift in Solana?” Though Binance’s intention is unclear, their move is undoubtedly precautionary or a harbinger of something. Perhaps it could be the onset of a bear…

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Filed under: News - @ February 24, 2025 8:24 pm