Skip to content
Ova News NG

Ova News NG

Ova News NG feed V2

Primary Menu
  • HOME
  • NEWS
  • ENTERTAINMENT
  • SPORTS
  • POLITICS
  • WORLD NEWS
  • LIVE FOOTBALL SCORES
  • Home
  • NEWS
  • Solana’s value declines as Pumpfun offloads $41M in tokens
  • NEWS

Solana’s value declines as Pumpfun offloads $41M in tokens

1 year ago 1 min read
Share:

Solana’s value has taken a hit, falling by 12% to $128 over the past week. This decline comes in the wake of a significant sell-off by Pump. fun, a platform known for launching meme coins.

On September 3, Pump. fun sold 10,300 SOL tokens at $134.46 each, amounting to about $1.38 million.

This transaction is part of a larger trend where Pump. fun has liquidated $41.64 million worth of SOL tokens, previously trading at an average of $157.50.

Such large-scale sales by major holders, or “whales,” often impact market prices sharply, contributing to recent instability in Solana’s trading momentum.

The surge of memecoin launches on Pump. fun has also likely contributed to the cooling of Solana’s earlier price gains.

Solana’s performance is closely linked to Bitcoin’s movements, with Bitcoin experiencing an 18% drop over the last quarter and Solana following with a 22% decrease.

This correlation highlights how fluctuations in major cryptocurrencies can affect each other.

Despite these challenges, there are potential positives on the horizon for Solana.

On August 7, Brazil approved its first Solana ETF, a significant milestone that might inspire similar initiatives globally.

Additionally, market experts are cautiously optimistic about the possibility of a U.S. Solana ETF approval by the end of 2024, which could attract substantial institutional investment and boost Solana’s market position.

Facebook Comments Box
Share:

Related:

  • Nigeria’s Broadband Penetration Declines for Second Month Despite NCC’s Targets
    Nigeria’s Broadband…
    NEWS
  • Furore over rising cases of stranded Nigerians in foreign lands
    Furore over rising cases of…
    NEWS
  • Profit-Taking Drags NGX Lower As ASI Fell By 0.45%
    Profit-Taking Drags NGX Lower…
    NEWS
  • ADC Punctures Tinubu’s Claims On Revenue Success… Flays 5% Petrol Tax, 300% Passport Fee Hike
    ADC Punctures Tinubu’s Claims…
    NEWS
  • Equities Market Records ₦85.40bn Turnover, NGX Lists Additional 270,382 Units Of NIDF
    Equities Market Records…
    NEWS

Post navigation

Previous ‘My mum not dead’ – Fuji singer Malaika
Next NPFL: Kano Pillars sign 12 new players

  • Recent
  • 2027: We’re behind e-transmission of election results – ADC
    • NEWS

    2027: We’re behind e-transmission of election results – ADC

  • Gaza: ‘History will repeat itself’ – Sheik Gumi warns Israel
    • NEWS

    Gaza: ‘History will repeat itself’ – Sheik Gumi warns Israel

  • Family accuses police of torturing 23-year-old to death in Ondo
    • NEWS

    Family accuses police of torturing 23-year-old to death in Ondo

  • 2027: No glitches, no excuses – PDP warns INEC
    • NEWS

    2027: No glitches, no excuses – PDP warns INEC

  • Lagos 2004 Estate: Continental Civil and Qshelter Partner to Redefine Urban Housing in Lagos
    • NEWS

    Lagos 2004 Estate: Continental Civil and Qshelter Partner to Redefine Urban Housing in Lagos

  • EPL: Chukwueze will help boost Fulham’s attack — Silva
    • NEWS

    EPL: Chukwueze will help boost Fulham’s attack — Silva

  • Nigerian govt empowers small scale farmers with mechanize farming inputs
    • NEWS

    Nigerian govt empowers small scale farmers with mechanize farming inputs

  • Ensure effective, equitable tax system for all Nigerians – Gov Oyebanji to JTB
    • NEWS

    Ensure effective, equitable tax system for all Nigerians – Gov Oyebanji to JTB

  • Why Dangote Refinery fuel reduction Greek gift to Nigerians – NUPENG
    • NEWS

    Why Dangote Refinery fuel reduction Greek gift to Nigerians – NUPENG

  • Police arrest three suspected armed robbers, recover stolen items in Benue
    • NEWS

    Police arrest three suspected armed robbers, recover stolen items in Benue

  • 2027: We’re behind e-transmission of election results – ADC
    • NEWS

    2027: We’re behind e-transmission of election results – ADC

  • Gaza: ‘History will repeat itself’ – Sheik Gumi warns Israel
    • NEWS

    Gaza: ‘History will repeat itself’ – Sheik Gumi warns Israel

  • Family accuses police of torturing 23-year-old to death in Ondo
    • NEWS

    Family accuses police of torturing 23-year-old to death in Ondo

  • 2027: No glitches, no excuses – PDP warns INEC
    • NEWS

    2027: No glitches, no excuses – PDP warns INEC

  • Lagos 2004 Estate: Continental Civil and Qshelter Partner to Redefine Urban Housing in Lagos
    • NEWS

    Lagos 2004 Estate: Continental Civil and Qshelter Partner to Redefine Urban Housing in Lagos

SECTIONS

  • ENTERTAINMENT
  • NEWS
  • POLITICS
  • SPORTS
  • Uncategorized
  • WORLD NEWS
  • LIVE FOOTBALL SCORES ⚽ ⚽ ⚽

Hey There!!., Get all Latest Ova News Feeds on the Go! 👋

Sign up to receive all Our latest News content Recap in your inbox every weekend.

We don’t spam! Read our privacy policy for more info.

Check your inbox or spam folder to confirm your subscription.

Quick Links

  • News
  • Entertainment
  • Live Football Scores
  • Premier League Scores

Legal

  • Terms of Use
  • Privacy Policy

Connect with Us

  • Contact Us
  • Advertise
Copyright © 2025 Ova News Network | Created by Ben Ova O. | All Rights Reserved.
pixel