Solana Price Builds Death Cross: Binance Sell-Offs To Blame?
Big name sell-offs amidst a broader crypto market crash send Solana's price tumbling.
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Big name sell-offs amidst a broader crypto market crash send Solana's price tumbling.
Solana price crashed by 15% on Tuesday as the recent meltdown continued. This plunge coincided with the weak ecosystem metrics, which show that its active users, core developers, commits, and DEX volume have dropped.
The cryptocurrency market plunged on Feb. 25, 2025, with altcoins suffering outsized losses amid economic uncertainty fueled by President Donald Trump's tariff policies. At press time, the crypto economy stands at $2.91 trillion, down more than 6% over the last day.
Dogcoin (DCOIN), a small-cap memecoin built on Ethereum, has surged an astonishing 75% in just 24 hours, bucking the trend as heavyweights like Bitcoin (BTC) and Solana (SOL) stumble. Bitcoin has plummeted below $89,000, while Solana has slipped under $135, reflecting a broader market downturn that has left investors reeling from long position liquidations.
Bitcoin plunged to a three-month low below $88,000 Tuesday morning, dragging the wider crypto market down with it.
As the competition heats up for the next altcoin exchange-traded fund (ETF), BlackRock has remained noticeably absent from the race for a Solana (SOL) ETF. The post BlackRock Stays Silent on Solana ETF Plans as Rivals Race Ahead appeared first on Cryptonews.
The crypto market plunged into the red, shaving off over $230 billion after President Donald Trump announced that tariffs on Canada and Mexico would be effective in March. As a result, market sentiment sank to extreme fear, with cryptocurrencies registering significant losses.
Solana faces downward price pressure as a whale transfers $127 million in tokens and a major unlock of 11.2 million SOL approaches on March 1
CryptoQuant CEO Ki Young Ju is shaking up the idea of “Altcoin Season” as we know it, suggesting that only a select few altcoins will thrive in 2025. Unlike past cycles, where almost all altcoins are pumped together, Ju believes this bull run will favor projects with strong projects with real-world use cases.
Solana has suffered a sharp decline, dropping to its lowest level since November as selling pressure keeps mounting ahead of a major token unlock.
The crypto markets are painted in red today, with the S&P 500 dropping close to 3% in the past few days. The Solana price, which was already trading in a sinking ship, witnessed a rise in the selling pressure, which caused the price to drop below $140.
Time.fun's latest move comes after a trial deployment on the Base network last year, which, by the company's standards, was largely successful.
Crypto market crash adds fuel to the growing token unlock fear among Solana holders. Solana (SOL) price crashed under $150 and warned of a plunge to $100 as Bitcoin hangs at $90K support.
Ether is on the verge of slipping into a death cross, an ominous momentum indicator, with a mixed record of predicting price trends.
The cryptocurrency market is not new in terms of periods of strong altcoin activity, often accompanied by a notable drop in the dominance of Bitcoin, which lets altcoins shine. Altcoin seasons have historically been linked with these times of weakening Bitcoin market dominance, opening the path for alternative cryptocurrencies to record notable price swings.
Wintermute withdrew over $38 million worth of Solana (SOL) from Binance on Feb. 24, just days before the largest token unlock in Solana's history, scheduled for March 1.
The crypto market is witnessing another major wave of volatility today, with meme coins, altcoins like Solana, and even Bitcoin prices taking a major hit. Amid these declines and massive liquidation, a crypto trader lost $24M while swapping TRUMP tokens for USDC.
Rachel Aguirre, the head of U.S. iShares products at BlackRock, highlighted the company's three key principles applied when considering the launch of a Solana ETF. She said that BlackRock's focus remained on meeting customer needs, defining the investment thesis, and evaluating the suitability of ETF packaging.
The crypto markets are witnessing massive sell-offs, which have dragged the major cryptos below their pivotal support levels. Bitcoin dropped below $94,000 initially and later formed the bottom below $92,000 and interestingly, it does not appear to halt the ongoing bearish trend.
Solana has plunged 45% against Bitcoin, marking one of the most significant market shifts of 2025. While SOL has suffered heavy losses, Bitcoins rising dominance signals a liquidity outflow from altcoins.
Solana-based token issuance platform Pump.Fun appears to be developing its own automated market maker (AMM), according to a newly discovered URL, though no official announcement has been made. An AMM enables decentralized trading by using liquidity pools instead of traditional order books.
Solanas (SOL) options market is heating up on Deribit, with whales making significant bearish bets as SOLs price continues to slide ahead of a major token unlock. Last week, block trades on Deribit totaled $32.39 millionnearly 25% of the $130.74 million options activitymarking the second-highest block trade ratio on record, according to Amberdata.
Traders said the current bearish sentiment could be overblown and macroeconomic decisions were key to support market growth.