Bitcoin (BTC) After the last inflation report, it has not been able to achieve permanence above $ 67,400 for now. Altcoins continue the day with a loss of 1-2 percent. Solana (SOL) is stalling at $80. So how much will Solana (SOL) be worth this month?
Solana (LEFT)
US stock markets started the day with a slight loss. Solana (LEFT) It is stalling at $80 and the total locked value on the network has fallen to $6.35 billion. The total locked value in the network, which climbed to $13 billion in the last quarter last year, decreased by more than 50 percent.
While fee revenues on the network have rebounded from January, they are still far from last year’s peaks and are stalling around half a million dollars.
The loss of TVL for applications on the Solana network shows how investor interest has weakened. DEX platforms are quite weakened, and exhausted investors are driving down network activity, helping to normalize prices for SOL Coin, now below $100.
SOL Coin Price
$133 was an important threshold for SOL Coin and it was lost. Although the January rise was promising, the price could not achieve permanence above this key level. Then, in the midst of multi-billion dollar futures liquidation, SOL Coin lost its $118 and $98 bases. Now it needs to hold above $77 as the last stop. Even though it had a lower wick below this level during the February 6 collapse, the support is maintained for now.
Many altcoins tend to fill the February 6 wick, and if Solana wants to do the same, $68 could be the ultimate target. This will mean that the gains of the last bull season will be largely reset. The network, which had the most enjoyable days in its history last year due to PumpFun, is now struggling depending on whether Bitcoin can hold 68 thousand dollars.
Now BTC It is far from the $64,000 zone and is trying to reclaim $67,500 10 minutes after the US market open. The direction for the weekend will probably be clear within the next few hours.
fortunately SOL Coin Investors can consider themselves lucky compared to AVAX investors, as AVAX is stalling near bear bottoms while SOL is at least in double digits.
Martinez is hopeful for SOL Coin. It expects a retracement of the $82 and $88 levels.
