SOL to test the $140 support level after Pump.fun ban
The post SOL to test the $140 support level after Pump.fun ban appeared on BitcoinEthereumNews.com. Key takeaways SOL is the worst performer among the top 10 cryptocurrencies today, down 3.5% in the last 24 hours. Its poor rally can be attributed to Pump.fun’s account ban on X and the ongoing conflict in the Middle East. Crypto market still reeling from the Middle East crisis The cryptocurrency market has had a bearish few days, courtesy of the ongoing conflict between Iran and Israel. Bitcoin, the leading cryptocurrency by market cap, has lost 3.4% of its value over the past seven days and currently risks dropping below $105k. At press time, the price of Bitcoin stands at $105,688 per coin. Thanks to the ongoing bearish performance, the total cryptocurrency market cap has dropped below $3.3 trillion. SOL, Solana’s native coin, is one of the worst performers among the top 10 cryptocurrencies by market cap. While it is affected by the same fundamentals as the broader market, other catalysts have helped dampen SOL’s performance. SOL dips to $150 on Pump.fun’s X ban SOL is currently trading at $150.08, down 3.43% in the last 24 hours. Its poor performance can be attributed to the unexpected suspension of Pump.fun from X. Pump.fun is the leading memecoin launchpad on the Solana blockchain. Social media platform X suspended the X accounts of Pump.fun, its co-founder, Alon Cohen, and several high-profile meme projects, including GMGN and ElizaOS. This was a major blow because Pump.fun had become a major driver of onchain activity and speculative momentum on Solana. Thousands of memecoins have launched on the Solana blockchain over the past few months, thanks to Pump.fun. In addition to the Pump.fun X ban, the ongoing conflict in the Middle East is affecting the performance of Bitcoin, Solana, and other major cryptocurrencies. SOL could test the $140 support level While SOL is trading around $150 at…
The post SOL to test the $140 support level after Pump.fun ban appeared on BitcoinEthereumNews.com.
Key takeaways SOL is the worst performer among the top 10 cryptocurrencies today, down 3.5% in the last 24 hours. Its poor rally can be attributed to Pump.fun’s account ban on X and the ongoing conflict in the Middle East. Crypto market still reeling from the Middle East crisis The cryptocurrency market has had a bearish few days, courtesy of the ongoing conflict between Iran and Israel. Bitcoin, the leading cryptocurrency by market cap, has lost 3.4% of its value over the past seven days and currently risks dropping below $105k. At press time, the price of Bitcoin stands at $105,688 per coin. Thanks to the ongoing bearish performance, the total cryptocurrency market cap has dropped below $3.3 trillion. SOL, Solana’s native coin, is one of the worst performers among the top 10 cryptocurrencies by market cap. While it is affected by the same fundamentals as the broader market, other catalysts have helped dampen SOL’s performance. SOL dips to $150 on Pump.fun’s X ban SOL is currently trading at $150.08, down 3.43% in the last 24 hours. Its poor performance can be attributed to the unexpected suspension of Pump.fun from X. Pump.fun is the leading memecoin launchpad on the Solana blockchain. Social media platform X suspended the X accounts of Pump.fun, its co-founder, Alon Cohen, and several high-profile meme projects, including GMGN and ElizaOS. This was a major blow because Pump.fun had become a major driver of onchain activity and speculative momentum on Solana. Thousands of memecoins have launched on the Solana blockchain over the past few months, thanks to Pump.fun. In addition to the Pump.fun X ban, the ongoing conflict in the Middle East is affecting the performance of Bitcoin, Solana, and other major cryptocurrencies. SOL could test the $140 support level While SOL is trading around $150 at…
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