Solana fell about 6% on the day, ending its three-day winning streak.
Cryptocurrency markets fell on Wednesday, with most tokens giving up most of their gains from last week's rally.
Bitcoin (BTC), the world's largest cryptocurrency, is currently trading at around $62,500, down nearly 2% in the past 24 hours. Ether (ETH) fell 1.4% and Dogecoin (DOGE) fell 4%.
JA Maartunn, contributor to on-chain analytics platform CryptoQuant, said: warned For Bitcoin, a daily close below $62,100 or a long period of inactivity counts as a stop loss.
Meanwhile, Michael van de Poppe, founder and CEO of trading company MNTrading, said: expressed This is dissatisfaction with the lackluster price movement since Bitcoin's halving in mid-April. “Bitcoin is slowly moving towards the lower end of the range as it tests support,” he said. “The uptrend is likely to continue after that. Boredom set in after the Bitcoin halving.”
Solana's three-day winning streak appears to have come to an end, with SOL down more than 5%.
According to DefiLlama data, Solana's TVL on Wednesday was 26.92 million SOL, the lowest this month compared to the previous day's 28.22 million SOL. The four-hour Relative Strength Index (RSI) exceeded 70, entering overbought territory, which also contributed to the decline.
According to CoinGlass data, over 63,000 leveraged traders liquidated a total of $140 million in the past 24 hours.
FTX payments
FTX, the bankrupt cryptocurrency exchange, has made a new proposal. Reorganization plan. If approved by the Delaware Bankruptcy Court, 98% of creditors could receive 118% of their claims in cash within 60 days.
Additionally, non-governmental creditors will get back 100% of their claims with up to 9% interest.
Ethena’s governance token ENA soared on Tuesday following the announcement that Bybit has integrated the protocol’s USDe synthetic dollar to expand trading activity. ENA hit a two-week high of $0.96 before falling back.
Stock markets are strong following the blue chip average's longest winning streak since December.
The Dow Jones Industrial Average was down less than 0.1%, while the S&P 500 and Nasdaq 100 were down about 0.2%.
