Solana Price Drops Amid Market-Wide Risk-Off Sentiment and Leverage Flush

Solana's price dropped by 4.4% over the last 28 hours due to market-wide risk-off sentiment, profit-taking near resistance levels, and a leverage flush.

The altcoin was hit hard, with $430 million in leveraged crypto positions liquidated in just 24 hours, including Solana and XRP, which both dropped about 4.1% as traders unwound longs and rotated to capital preservation.

Alphractal's CEO warned that unliquidated long positions dominate major cryptocurrencies like Bitcoin, Ethereum, XRP, and SOL, making them vulnerable to a cascade of liquidations and amplified selling if prices slip.