Solana Price Plummets Amidst Market Volatility Driven by Staking Withdrawals and Futures Liquidations

Solana’s price has taken a significant hit recently, facing increased market volatility due to substantial staking withdrawals and notable futures liquidations. Over two million SOL were withdrawn from staking between May 15th and May 16th, coinciding with the drop in its price. This withdrawal contributed to wider financial shifts that impacted Solana’s market valuation. The recent price declines are attributed primarily to a surge in futures liquidations, leaving experts concerned about the asset’s short-term health.