Solana Price Plummets by 6% as Jump Crypto Makes Major Asset Shift

Solana’s price has taken a dramatic hit, dropping to $182 on October 30th, its sharpest single-day decline since the market crash of October 10th. This plunge led to a significant decrease in Solana’s market capitalization, dropping to $100.1 billion. Notably, Jump Crypto, an established trading firm, has executed a substantial asset shift involving both selling Solana and buying Bitcoin within minutes. They sold off 1.1 million SOL for $205 million before acquiring 2,455 BTC worth approximately $265 million in Bitcoin. This move signifies a potential flight to safety strategy by Jump Crypto amid anticipated geopolitical tensions between the US and China.