Popular crypto analyst Crypto Bitlord just dropped a bombshell on his 328,000 X platform followers. His startling revelation? Solana (SOL), a heavyweight in the web3 scene boasting nearly $3 billion in locked assets, could be under investigation. And if true, it spells big trouble for SOL investors.
Dive in to find out what this investigation means for Solana’s future.
Although the source of the investigation remains unverified, Crypto Bitlord’s post has already garnered over 600,000 views, indicating widespread concern among investors.
The analyst highlighted the potential for many investors to be caught off guard, given the ongoing denials. This warning comes amidst the analyst’s prior involvement in a project, MOLLY, which raised $5 million but later collapsed.
If the rumored investigation into Solana materializes, Ethereum could benefit significantly. This follows the US SEC’s recent decision to drop its investigations into Ethereum, paving the way for the imminent approval of several spot Ethereum ETFs.
Drawing parallels, the analyst compared Solana’s situation to XRP, which has faced prolonged consolidation due to an SEC lawsuit.
The analyst predicts that if the investigation becomes public, SOL’s price could drop below $10 again. Currently, Solana has already seen a 20% decline in the last two weeks, trading around $127 on Monday.
With a fully diluted valuation of about $73 billion and a daily trading volume of around $2.5 billion, Solana has been in correction mode over the past three months.
As the crypto community awaits further developments, Solana’s future hangs in the balance amidst speculation and uncertainty.
Read Also: Mt. Gox to Begin Repaying Creditors in Bitcoin and Bitcoin Cash Next Week
Is this just a rumor, or the start of a major shakeup for Solana? Only time will tell.
Robert Kiyosaki, the author of Rich Dad Poor Dad, warns that a big financial crash…
Pi Coin is showing signs of life after climbing 6% in the past 24 hours.…
Traditional education has long struggled to keep pace with modern needs, leaving learners disconnected from…
The Pi Network team has just released its Mainnet Migration Roadmap, but instead of relief,…
Kyrgyzstan continues to solidify its position as a regional crypto hub. The country is advancing…
The staking feature for crypto ETFs will likely be approved by the Donald Trump administration. …
