Whales Drive Solana’s Price Plunge, Prompting Fear and Uncertainty

Key Points

1. Solana's price dropped to $163, a 2.86% loss over 24 hours, driven by large-scale whale sales.

2. Approximately $17 million in long positions were affected, and a record $57 million in long positions were liquidated.

3. Technical analysis suggests a potential further drop to $120, with whale sales and liquidations playing a key role in market dynamics.

4. The market volatility has raised concerns, prompting experts to advise caution and independent research.