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Solana Plummets 14% On Heels Of Spot Bitcoin ETF Delay Rumor, $640M Liquidation Cascade

Published by
Benzinga

Fears of a delay in Spot Bitcoin ETF approvals spurred the biggest cryptocurrency market dip in months.What Happened: Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are down 7% and 7.6%, respectively in the past 24 hours. Bitcoin and Ether also witnessed an increase of 23% and50%, respectively, in trading volumes. Solana (CRYPTO: SOL) plunged 14.2% in the same timeframe, with trading volumes expanding 34.5%. Notably, several crypto analysts on social media updated their trading plans based on a report from Matrixport that predicts the U.S. Securities and Exchange Commission (SEC) will not ap…

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