During the initial week of 2024, the digital currency solana experienced a sharp decline, shedding over 6% in value. This downturn has relegated the crypto asset to the fifth position in market rank, as it oscillates beneath the $100 threshold on Saturday, Jan. 6, 2024. 2024 Brings Chill to Solana’s Market Performance After surging by over 700% in 2023, solana (SOL) has experienced a cool-off period. In the last week, SOL dipped slightly more than 6%, yet it still boasts a 46% increase against the U.S. dollar over the preceding month. As of Jan. 6, 2024, SOL’s intraday value fluctuated between a high near $100 and a low of $92.23, trading at $96.75 per unit at 12:51 p.m. Eastern Time. Notably, SOL commands significant influence in South Korea’s market, trading at $99 on Upbit and $98.81 on Bithumb, surpassing the global average of $96 per unit as noted on aggregate market sites. Tether ( USDT ) is SOL’s primary pair, constituting over 67% of all solana trades, followed by the U.S
According to QCP Capital’s latest analysis, macroeconomic conditions are becoming increasingly favorable for risk assets, including cryptocurrencies. Central bank policies, particularly from China and the U.S. are playing a crucial role in shaping market sentiment. QCP Capital: Central Bank Moves Boost Outlook for Crypto QCP Capital‘s analysis on Wednesday highlights a series of macroeconomic developments […]
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