Benzinga

4W
...

Does Solana’s Decline Mean It’s ‘Rugging In Slow Motion’?

Solana’s SOL/USD continuous decline prompted one prominent crypto trader to express serious doubts about its future.

What Happened: Prominent trader DonAlt has voiced his concern over the persistent decline in the value of Solana, despite Bitcoin’s BTC/USD stability. He noted that the cryptocurrency has been “rugging in slow motion,” with “day after day after day red.” He further stated that SOL is already down 37% against USD from its peak. This, he found particularly striking given that Bitcoin has been stable.

On the contrary, notable crypto influencer Altcoin Hunter expressed bullish sentiments on Solana, dismissing rumors of it being a “slow rug” and considering going long above $125….

Read more on Benzinga

49.7K Reads