A well-known cryptocurrency analyst recently hinted at a major development on the horizon for Solana, which could have a significant impact on the cryptocurrency’s price. Referred to as Crypto Bitlord on the platform, the expert shared on June 23 that rumors of an investigation into $SOL were circulating, with a potentially significant case about to be made public. The situation has been brewing for weeks and the timing could not be worse. The analyst’s warning on X garnered widespread attention within the cryptocurrency community.
While the official source of the alleged investigation into Solana was not disclosed, the analyst’s warning painted a grim picture for the cryptocurrency. If the investigation goes public, the price of SOL could plummet below the $10 mark once again. “Don’t be surprised if $SOL drops to $3,” the analyst cautioned.
As of the latest data, the price of Solana was quoted at US$127.26, showing a 4.4% increase in the last 24 hours. However, over the past week, the token has experienced a 10.8% decrease in price. The trading volume for Solana (SOL) currently stands at $2,495,160,345, reflecting a remarkable 197.30% increase from the previous day, indicating a surge in market activity for the altcoin.
It is important to note that the opinions expressed in this article are solely for informational purposes and do not constitute financial or investment advice. Investing in cryptocurrencies carries inherent risks of financial loss.
In related news, Solana’s DeFi ecosystem has gained new momentum with a recent launch, while the blockchain has activated a significant upgrade, signaling a pivotal moment for the platform.