Solana price declined to $236 on Thursday, reflecting a 10.3% correction from the all-time high of $264 recorded last week.
Solana price consolidated above $236 on Thursday, down 10.3% from last week’s peak of $264. Solana node validators have unstaked 10.8 million SOL since prices crossed the $200 mark on November 8. The influx of unstaked coins into the market could potentially impede Solana 's next $250 breakout attempt. On-chain data trends reveal rising sell-pressure among node validators booking profits could potentially impede the next breakout phase.
com Looking at the chart above, Solana’s key stakeholders held 397.9 million SOL in staking contracts on November 8. But as Solana's price breached the $200, the investors began to make rapid withdrawals from the staking network. The latest data shows the total staked value has now declined to 387.1 million SOL on Thursday. Solana’s network validators have effectively unstaked 10.8 million SOL, worth approximately $2.6 billion when valued at the current price of $236 per coin.
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