Solana (left), with the overall market drop in the last 24 hours by 9.3 %of the value of 166 dollars fell to the level of $ 166. Solana -based LIBRA breast coin sudden mobility triggered sales pressure in the rest of the market. While the number of active addresses and transaction volume in the network was observed, the general uncertainty in the market pushed investors to behave cautiously.
The mobility in the Solana network decreases
Crypto money analyst Ali Martinez announced that the number of active addresses in the Solana network declined from 18.5 million to 8.4 million in November. This means a decrease of approximately 55 %.
However, the total transfer volume fell from 2 billion dollars to 26 million dollars in November. Such a large loss of volume weakens Solana’s position in the market. This contraction in the transaction volume raises the possibility of further decline in the price. In the crypto currency market, the procurement wave seen in the previous periods was replaced by uncertainty and low risk appetite.
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Market analysts say that solana price movements are usually in accordance with the decrease model after the peak. Experts from Incomesharks say that the current price movement reflects a significant loss of energy.
Token supply is increasing, the price is at risk
Millions of new left tokens will be put on the market with the Token lock opening, which will take place as of March 1. Solana, which currently has an inflation rate of 4.715 percent, is expected to face supply pressure after this expansion. More than 15 million token can circulate as an estimated.
Crypto currency trader Runnerxbt emphasizes that investing in Solana at the current price levels is at risk. In this period, warnings that investors should act carefully are increasing.
A significant rise in liquidation rates was recorded in futures. Increased liquidations and breaking price support can raise lower levels. According to the analyzes, these factors force investors to follow the market more closely.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
