Solana joined Bitcoin’s free fall along with other cryptocurrencies on Tuesday, after being among the few cryptos standing in the green during a red day in the crypto market on Monday.
See related article: What Solana prices will be at the end of 2021 and beyond
- Solana — currently at US$83.50 – is down almost 12%, after a 6% bull run to US$94.52 just 24 hours ago.
- Global markets, including cryptocurrencies, have been shrouded in uncertainty recently, as Russia-Ukraine tensions continue to make headlines.
- “During these times of extreme market stress, all assets are stripped bare and tested for their resiliency, both from a technological perspective but also in terms of community support and stickiness,” AAX head of research and strategy Ben Caselin told Forkast in an email.
- Bitcoin fell 6% over the past 24 hours to trade at US$36,717, adding to the 2% fall from the day before.
- Terra was the latest of the top 10 cryptocurrencies to join the red zone on Tuesday, down 3.2% and trading at US$49.09, as of press time.
See related article: Is Terra — whose LUNA coin is now at another all-time high — really where the smart money is?