SOL Price Drops Below $200 Amid US-China Trade Tensions
SOL, the native coin of the Solana blockchain, has dipped below $200, losing 1% of its value in the last 24 hours due to persistent bearish market trends.
The escalation of trade tensions between the United States and China has led to uncertainty and a risk-off sentiment in the cryptocurrency market, affecting SOL's performance.
- SOL is currently trading at $195 per coin.
- The Chinese government has announced levies to safeguard its shipping industry from "discriminatory" measures.
- These levies will apply to US-owned, operated, built, or flagged vessels, but not to Chinese-built ships, in retaliation for US fees on Chinese ships.
The trade disputes between the US and China have triggered uncertainty and a risk-off sentiment in the cryptocurrency market.
Author's summary: The SOL price fell due to US-China trade tensions.