Solana Crash: SOL Falls Below $100. Is $80 Next?
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Update 03:30: Binance claims $6.3 billion in damage. In an official release, Binance estimates the total damage to around $6.3 billion, of which about $3 billion is frozen on the blockchain. According to a preliminary investigation, the laptop of a DevOps engineer was compromised; the attacker entered a service container and filed unauthorized payouts. According to Binance, there is no evidence of a lost private key. The stock exchange will repl…
Solana Crash: SOL Falls Below $100. Is $80 Next?
Solana has fallen below $100 and keeps sliding after the suspected Binance hack. On Thursday night SOL dropped from $98.94 at 20:15 UTC to $95.64 at 21:05 UTC, down 3.3% within an hour and more than Bitcoin. Over 24 hours Solana is down 5.3% according to CoinMarketCap. Yet Solana has nothing to do with the incident technically: the attacker took Ether, USDT and USDC. Why SOL falls anyway, why it was already weak before and which levels matter no…
SOL progresses slightly and records a volume higher than its recent average, but remains below several relevant moving averages and accumulates losses in the month. The analysis evaluates whether the rebound has sufficient support, what levels could guide the next decisions, and why the lack of derivative and adoption data limits the conviction.
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