Solana experienced a nearly 10% drop amid a wave of cryptocurrency liquidations, spurred by rising geopolitical tensions. Following a rally that saw the price reach $167 on June 11, SOL fell sharply to around $145 as markets reacted to Israeli airstrikes on Iran, leading to a global shift towards hard assets, notably causing oil and gold prices to surge. Bitcoin also faced similar pressures, triggering over $400 million in liquidations. Despite the downturn, Solana maintained steady daily transactions (around 80 million) and consistent application revenue ranging from $4-7 million per day. The decentralized exchange (DEX) volume showed a decline, yet efficiency improved with aggregation services enhancing price execution. While SOL’s price approaches critical support at $140, analysts suggest that if Bitcoin stabilizes above $100k, Solana could recover. Current macroeconomic uncertainties, coupled with tightening Fed policies and energy price volatility, continue to exert pressure on the market. Nonetheless, Solana's internal metrics remain strong, indicating resilience amidst the volatility, potentially allowing the network to emerge stronger if market conditions improve.

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