Solana (SOL) Faces Bearish Pressure Amid SEC Allegations, Investors Eyeing Potential Recovery
In the wake of the U.S. Securities and Exchange Commission's (SEC) allegations against Kraken, implicating it as an unregistered securities exchange, broker, and clearing agency, the broader cryptocurrency market has felt the reverberations. Solana (SOL), specifically listed in the SEC's filing, has seen a notable decline in its price, reflecting the sensitivity of the cryptocurrency market to regulatory developments.
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SEC Allegations and Impact on Solana
Following the SEC's filing, Solana (SOL) experienced a significant drop in price. After reaching a 24-hour peak of $57.7, the cryptocurrency faced a decline to a low of $52.72 by 7:15 PM on November 21. As of the latest update, Solana is tradi...