The post Solana Price Plummets 6.21%: $14.98 Million Liquidated in 24 Hours appeared on BitcoinEthereumNews.com.

Solana price has dropped 6.21% in the past 24 hours, pushing the total liquidation of the asset to $14.98 million. This follows a brief period earlier in the day when Solana’s price neared $270, before slipping lower. According to data from CoinGlass, long traders were most affected, with $11.4 million worth of long positions getting liquidated. This indicates that many traders were betting on Solana’s continued rise, only to face a downturn. In contrast, short traders saw $3.57 million in liquidations. In addition to the price drop, trading volume for Solana also declined by 41.27%, falling to $5.47 billion. This suggests that market activity around Solana has slowed, with fewer trades taking place. Solana’s price fluctuated between $246.79 and $269.81 in the past 24 hours, now standing at $253.87 at the time of writing as per Coinmarketcap data. – Advertisement – The price movement shows some volatility but may find support if buying interest returns. Other Altcoins See Similar Trends Solana wasn’t the only asset facing liquidations. Dogecoin (DOGE) saw $7.29 million in liquidations, with long traders accounting for most of that figure. DOGE’s price dropped by 3.8% over the same period. XRP also followed a similar pattern, with $4.17 million in liquidations, and dogwifhat (WIF) had $4.44 million in total liquidations. With the price dropping and trading volume down, Solana faces a period of uncertainty. The asset’s price has now settled at $247.95, but it remains to be seen if the market can stabilize or if further fluctuations are ahead. The liquidation trend across multiple assets highlights the volatility in the crypto market, with long positions bearing the brunt of recent losses. As always, traders will be keeping an eye on the broader market for any signs of recovery. Solana Price Analysis The Solana network recently saw a surge…

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Filed under: News - @ January 26, 2025 6:10 pm