The post Why is Crypto Down Today? Solana Price Slides 11% as JetBolt Presale Pumps appeared on BitcoinEthereumNews.com.

As Solana has its total value locked (TVL) growing, will it propel the crypto giant’s epic comeback, or will JetBolt capture the attention of Solana enthusiasts as a breakout star? Let’s explore the latest developments on Solana and JetBolt.  Solana (SOL) holders are feeling the pressure of its recent 11% slide. Meanwhile, the new altcoin JetBolt (JBOLT) continues to soar through the clouds, fueled by increasing whale activity. Solana’s Price Slips 11% Amid Market Downturn Solana has had a challenging month, and today, it’s feeling the heat of broader market sell-offs. With an 11.9% price drop over the past seven days, SOL token holders are beginning to wonder if the once-thriving blockchain will regain its footing or continue to struggle. Solana is trading at $138.15 at current time. Solana’s TVL is growing and has reached approximately $5.5 billion, surpassing its long-time rival Ethereum in decentralized exchange volumes. Despite Solana’s increasing on-chain activity and TVL growth, its price has not followed suit. Instead, it remains stuck in a downward trend, down by 7% in the past two weeks and 2.4% in the past 24 hours. Crypto analysts pointed out several factors that are contributing to Solana’s slide. For one, market-wide sentiment has turned bearish amid concerns about regulatory clampdowns and economic uncertainty. Additionally, there are technical factors at play. Analysts highlighted that Solana’s price hit a “no-go area,” a zone where the potential for further declines grows stronger. As if those weren’t enough, macroeconomic issues like the U.S. Federal Reserve’s stance on interest rates have created an atmosphere of caution across all financial markets. These combined forces have Solana trapped in a difficult spot. Despite the price dip, crypto whales aren’t simply sitting idle—they’re looking for alternatives to Solana that could present early stage opportunities. This is where the zero-gas coin…

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Filed under: News - @ October 4, 2024 11:05 pm