Solana Faces Potential Price Crash as Unverified Investigation Raises Concerns

Key Points
– A well-known crypto analyst suggests that Solana is being investigated, potentially leading to a significant drop in price.
– While the investigation is not confirmed, rumors have already caused a decline in SOL’s price.
– If the investigation turns out to be true, Solana may face similar challenges to XRP following the SEC lawsuit.

Crypto analyst Crypto Bitlord has shocked his 328,000 followers on the X platform with a revelation about Solana (SOL), a major player in the web3 space with nearly $3 billion in locked assets. According to him, Solana could be facing an investigation, which could spell trouble for investors.

The news has sparked concerns among investors, with over 600,000 views on Crypto Bitlord’s post. While the source of the investigation is still unconfirmed, the fear of a potential case against Solana is growing.

If the rumors are true, Solana could be in for a rough ride, similar to XRP’s struggles after the SEC lawsuit. The analyst warns that many investors might be caught off guard by the investigation, especially given the denials from Solana’s side.

Should the investigation come to light, Ethereum stands to benefit, following the SEC’s decision to drop its investigations into the cryptocurrency. This could pave the way for the approval of several Ethereum ETFs, boosting Ethereum’s position in the market.

Looking at Solana’s current price, the analyst predicts that SOL could drop below $10 if the investigation is confirmed. With a 20% decline in the last two weeks, Solana is currently trading around $127. Despite having a fully diluted valuation of $73 billion and a daily trading volume of $2.5 billion, Solana has been experiencing a correction phase over the past three months.

As the crypto community awaits further updates on the investigation, Solana’s future remains uncertain. Will this investigation lead to a major shakeup for Solana, or is it just a rumor? Only time will reveal the truth.