SOL Price Falls 5.54%: What Caused the Retreat?
28. Mai 2023 | by admin
• Solana (SOL) token sees a 5.54% decrease in price in the last 7 days.
• The price decrease comes following Binance’s decision to discontinue Bitcoin spot trading with the Australian Dollar and Solana’s launch of a new ChatGPT plugin.
• SOL currently stands 14.64% lower than the previous month.
Solana (SOL) Price Retreats 5.54% Over Week
Despite recent news around Solana’s launch of a new ChatGPT plugin, the SOL token sees a 5.54% decrease in price in the last 7 days, marking a 14.64% price decrease for the layer-1 blockchain compared to the past month at the time of writing.
Binance Discontinues BTC Spot Trading with AUD
On May 26, leading cryptocurrency exchange Binance revealed its decision to discontinue Bitcoin (BTC) spot trading with the Australian Dollar (AUD) starting from June 1, as well as remove spot trading activities for several other prominent cryptocurrencies, including Solana (SOL).
ChatGPT Plugin Launch
Just days before Binance’s announcement, Solana had announced its launch of a new ChatGPT plugin that would enable users to seamlessly purchase non-fungible tokens (NFTs), transfer tokens, and analyze on-chain data – now available for download on Github. This shows Solana’s commitment to advancing user-friendly solutions within the blockchain ecosystem.
Current Market Situation
At the time of writing, Solana (SOL) was priced at $19.45, accompanied by a 24-hour trading volume of $152.5 million and 396.2 million SOL tokens in circulation – ranking it 10th by market capitalization according to CoinMarketCap data . Over the past 24 hours, SOL has experienced a positive growth of +1.13%. However, it currently stands -5.54% below its 7-day all-time high of $20.59 and an incremental increase of 3.18% from its 7-day all-time low of $18