Solana Price Braces For Potential Crash Below $100 Amid Investigation Rumors
The post Solana Price Braces For Potential Crash Below $100 Amid Investigation Rumors appeared on BitcoinEthereumNews.com.
The Solana price has experienced a sharp decline over the past month in line with the broader market correction, intensifying concerns as rumors of a potential investigation into the popular blockchain platform have recently surfaced. Regulatory Storm Brewing? In a social media post on X (formerly Twitter), market expert Crypto Bitlord, who has a considerable following of over 300,000 people, hinted at a rumored investigation into Solana. The post read: We are hearing rumors that SOL is under investigation and a huge case is about to be made public. This has been brewing for weeks and couldn’t come at a worse time. Related Reading While no specific details about the jurisdiction or agency conducting the alleged investigation into Solana have been disclosed, the United States has been at the forefront of an ongoing crackdown on the cryptocurrency industry since the collapse of the FTX crypto exchange in late 2022. The aftermath of the FTX incident resulted in a series of lawsuits and charges against various industry executives. Notable figures like Binance’s former CEO Changpeng Zhao (CZ) and Coinbase have faced legal scrutiny. A comparable scenario can be drawn with XRP and Ripple, as they have been engaged in a complex legal showdown over the sale of the digital asset. For Crypto Bitlord, who has contributed to projects such as Shiba Inu (SHIB), Floki Inu (FLOKI), and Pepe Coin (PEPE), the potential impact on the Solana price is significant. In response to skeptical comments, Bitlord warned, “Don’t cry when SOL is $3 again.” However, until further news emerges regarding the alleged investigation, these statements remain speculative. Solana’s founders have made no official statements regarding these rumors. Solana Price Analysis The Solana price has experienced significant losses across various time frames, with declines of over 9%, 18%, and 22% in the past…
Filed under: News - @ June 25, 2024 1:26 am