Solana (SOL) Drops 8% as Middle East Conflict Intensifies, Driving Crypto Sell-Off
Solana (SOL)
is trading at $128.82, down 8.33% in the past 24 hours, after a steep intraday correction linked to rising geopolitical tensions. The token dropped from $140.39 to $127.25, with the sharpest hourly decline occurring at 13:00, when sell pressure spiked and trading volume exceeded 4 million, according to CoinDesk Research’s technical analysis model.
The market reaction followed confirmed reports of U.S. military strikes targeting Iranian nuclear sites, triggering widespread risk aversion across crypto markets.
Some traders now worry that a closure of the Strait of Hormuz, even if temporary, could send oil prices soaring. That would likely stoke inflation, reduce the odds of near-term Fed rate cuts, and prolong the risk-off…
