Solana Crash: SOL Falls Below . Is Next?

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Solana lost 3.3% within an hour after the Binance hack and slid to .64, although not a single SOL was stolen. Why Solana falls anyway, why it was already weak before and which price levels matter now.Solana has fallen below $100 and keeps sliding after the suspected Binance hack. On Thursday night SOL dropped from $98.94 at 20:15 UTC to $95.64 at 21:05 UTC, down 3.3% within an hour and more than Bitcoin. Over 24 hours Solana is down 5.3% according to CoinMarketCap. Yet Solana has nothing to do with the incident technically: the attacker took Ether, USDT and USDC. Why SOL falls anyway, why it was already weak before and which levels matter now. What happened at Binance is in our crypto crash timeline, the wallet details in our Binance hack report. Why is Solana falling when no SOL was stolen? Trading pairs. Almost every coin trades against Bitcoin, Ether, USDT or USDC. When those pairs move, everything follows. Solana also has thinner order books than Bitcoin and falls harder in ...