Biggest Movers: MATIC and SOL Fall to Lowest Point Since January
Are you ready for the wild crypto ride? If you’ve invested in cryptocurrency recently, you know that the markets have been especially volatile lately. And in the last few days, two of the biggest coins on the market, MATIC and SOL, have been rocked by huge swings.
If you’ve been keeping tabs on your portfolio, here’s the rundown:
MATIC
MATIC is a staking cryptocurrency that works on the Ethereum network. It’s aims to bring more scalability and more widespread blockchain adoption. It flew high after it made its entry into the market in late April, reaching a peak of $0.082 USD on May 8th.
SOL
SOL is a blockchain-based project that aims to make decentralized finance easier to access and use. After it launched in mid-April, SOL’s price exploded to reach a peak of $2.81 USD on May 10th.
Recent Plunge
Yesterday, both coins plummeted to their lowest points since early January. MATIC dropped to $0.055 USD, and SOL hit $2.13 USD.
Why the big drop?
That’s the million dollar question. Here’s our take:
- Market correction – The cryptocurrency market has been on an upward trend for weeks, leading to an inevitable correction.
- News & speculation – Recent news could be affecting prices, as could wild speculation.
- Dollar rally – The U.S. dollar has been experiencing a resurgence, which could be putting downward pressure on coins.
So what now?
If you’re an investor, it’ll be prudent to keep a watchful eye on your portfolio. Otherwise, buckle up and enjoy the rollercoaster ride! After all, this kind of volatility is what makes the crypto game so exciting.
So hold on tight and tell your friends: we’re in for a wild one!
