{"id":625599,"date":"2024-06-20T13:00:01","date_gmt":"2024-06-20T13:00:01","guid":{"rendered":"https:\/\/ktsl888.com\/?p=625599"},"modified":"2024-06-20T10:21:39","modified_gmt":"2024-06-20T10:21:39","slug":"solana-41-crash-mechanism-capital-co-founder","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/solana\/solana-41-crash-mechanism-capital-co-founder\/","title":{"rendered":"Solana Could Face A 41% Crash, Warns Mechanism Capital Co-Founder"},"content":{"rendered":"

Andrew Kang, co-founder of Mechanism Capital, voiced concerns over the potential volatility and impending price correction of Solana (SOL) in a market analysis<\/a> posted on X. His comments come amid a broader dialogue concerning the delayed second wave of US spot Bitcoin ETFs, which he now anticipates could be pushed back by one to two quarters.<\/p>\n

He states, \u201cI believe the timeline for this is delayed by 1-2 quarters. Some market views. Experts now suggest that solicitation approval\/ETFs added to wealth management platforms is slated for Q4 instead of late May as originally suggested.\u201d He believes that this delay in ETF approvals could result in a lack of immediate capital influx into the market, thereby potentially reversing the current upward momentum.<\/p>\n

Impacting the broader crypto market, Kang\u2019s prediction for Solana, Kang’s prognosis is less optimistic. He highlights Solana’s price volatility, which has been significantly influenced by meme-driven trading activities.<\/p>\n

\u201cSolana has been a great horse this cycle but it\u2019s seen the reflexivity from the meme trading demand works in both directions. If meme trading takes a pause for the next few months, then you\u2019ll likely be able to buy SOL near $80 again,\u201d he remarked, indicating a potential 41% decline in SOL’s price from its current price level.<\/p>\n

Reasons For A Potential Solana Price Crash<\/h2>\n

Crypto analyst TexasHedge further elaborated<\/a> on Kang’s insights, providing a nuanced view of the market dynamics that influenced Solana’s price movements. He discussed the historical attractiveness of Solana as a high-risk, high-reward investment, often referred to metaphorically as “the world’s best casino.”<\/p>\n

Related Reading: Bitcoin And Solana Brace For Quiet Q3: What Crypto Traders Should Know<\/a><\/div>\n

This environment attracted significant capital inflows, which were crucial in driving up Solana’s valuation during its peak periods. \u201cKang’s SOL commentary makes a lot of sense. Solana remains arguably the best casino in the world, but casino outflows are as painful for the SOL token as inflows were beneficial,\u201d the crypto analyst noted.<\/p>\n

TexasHedge shared his previous investment approach, which saw Solana as a compelling trade based on several factors: Initially, it involved the re-rating of Solana, which had been considered a laggard in the crypto space due to the FTX collapse<\/a> but then gained momentum. Another factor was the strong influx of capital into SOL because of the memecoin frenzy<\/a>. Lastly, Solana’s movement often mirrored broader crypto market trends, benefiting from the overall market beta.<\/p>\n

Related Reading: Solana Down 40% But Analyst Says Now\u2019s The Time To Buy SOL<\/a><\/div>\n

Reflecting on these factors, TexasHedge remarked, “I liked SOL in October 2023 as a three-part trade: (i) re-rating of a presumed dead chain, (ii) inflows into the world’s best casino, and (iii) crypto beta. Now, you’re largely just left with (iii), at much higher levels, and amid a backdrop in which it is hard to make a great case that SOL is the best expression of crypto beta.\u201d<\/p>\n

Moreover, the analyst pointed out several structural challenges that Solana faces, which might contribute to a downward price correction. These include an inherent annual inflation of 5.21%, translating to about 82,570 SOL entering the market each year\u2014worth approximately $11.1 million at current prices\u2014and the regular monthly release of locked SOL purchased from FTX<\/a>, which increases supply and potentially depresses prices if demand doesn’t match up.<\/p>\n

“Even absent a cooling of memecoin mania, the outlook over the next few months is challenging,” TexasHedge concluded, indicating a tough road ahead for Solana amidst reduced speculative memecoin trading and ongoing market pressures.<\/p>\n

At press time, SOL traded at $137.<\/p>\n

\"Solana
SOL price needs to hold the 0.5 Fibonacci level, 1-week chart | Source: SOLUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from CoolWallet, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Andrew Kang, co-founder of Mechanism Capital, voiced concerns over the potential volatility and impending price correction of Solana (SOL) in a market analysis posted on X. His comments come amid a broader dialogue concerning the delayed second wave of US spot Bitcoin ETFs, which he now anticipates could be pushed back by one to two quarters. He states, \u201cI believe the timeline for this is delayed by 1-2 quarters. Some market views. Experts now suggest that solicitation approval\/ETFs added to wealth management platforms is slated for Q4 instead of late May as originally suggested.\u201d He believes that this delay in ETF approvals could result in a lack of immediate capital influx into the market, thereby potentially reversing the current upward momentum. Impacting the broader crypto market, Kang\u2019s prediction for Solana, Kang’s prognosis is less optimistic. He highlights Solana’s price volatility, which has been significantly influenced by meme-driven trading activities. \u201cSolana has been a great horse this cycle but it\u2019s seen the reflexivity from the meme trading demand works in both directions. If meme trading takes a pause for the next few months, then you\u2019ll likely be able to buy SOL near $80 again,\u201d he remarked, indicating a potential 41% decline in SOL’s price from its current price level. Reasons For A Potential Solana Price Crash Crypto analyst TexasHedge further elaborated on Kang’s insights, providing a nuanced view of the market dynamics that influenced Solana’s price movements. He discussed the historical attractiveness of Solana as a high-risk, high-reward investment, often referred to metaphorically as “the world’s best casino.” Related Reading: Bitcoin And Solana Brace For Quiet Q3: What Crypto Traders Should Know This environment attracted significant capital inflows, which were crucial in driving up Solana’s valuation during its peak periods. \u201cKang’s SOL commentary makes a lot of sense. Solana remains arguably the best casino in the world, but casino outflows are as painful for the SOL token as inflows were beneficial,\u201d the crypto analyst noted. TexasHedge shared his previous investment approach, which saw Solana as a compelling trade based on several factors: Initially, it involved the re-rating of Solana, which had been considered a laggard in the crypto space due to the FTX collapse but then gained momentum. Another factor was the strong influx of capital into SOL because of the memecoin frenzy. Lastly, Solana’s movement often mirrored broader crypto market trends, benefiting from the overall market beta. Related Reading: Solana Down 40% But Analyst Says Now\u2019s The Time To Buy SOL Reflecting on these factors, TexasHedge remarked, “I liked SOL in October 2023 as a three-part trade: (i) re-rating of a presumed dead chain, (ii) inflows into the world’s best casino, and (iii) crypto beta. Now, you’re largely just left with (iii), at much higher levels, and amid a backdrop in which it is hard to make a great case that SOL is the best expression of crypto beta.\u201d Moreover, the analyst pointed out several structural challenges that Solana faces, which might contribute to a downward price correction. These include an inherent annual inflation of 5.21%, translating to about 82,570 SOL entering the market each year\u2014worth approximately $11.1 million at current prices\u2014and the regular monthly release of locked SOL purchased from FTX, which increases supply and potentially depresses prices if demand doesn’t match up. “Even absent a cooling of memecoin mania, the outlook over the next few months is challenging,” TexasHedge concluded, indicating a tough road ahead for Solana amidst reduced speculative memecoin trading and ongoing market pressures. At press time, SOL traded at $137. Featured image from CoolWallet, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":625614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[42495,12837,86420,83626,89405,85361,89753],"class_list":["post-625599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-andrew-kang","tag-sol","tag-sol-price","tag-solana","tag-solana-news","tag-solana-price","tag-solana-price-prediction"],"acf":[],"yoast_head":"\nSolana Could Face A 41% Crash: Mechanism Capital Co-Founder<\/title>\n<meta name=\"description\" content=\"Andrew Kang, co-founder of Mechanism Capital, voiced concerns over the potential volatility and price crash of Solana (SOL).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/ktsl888.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana Could Face A 41% Crash, Warns Mechanism Capital Co-Founder","url":"http:\/\/ktsl888.com\/news\/solana\/solana-41-crash-mechanism-capital-co-founder\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/solana\/solana-41-crash-mechanism-capital-co-founder\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Solana-Ecosystem3.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Solana-Ecosystem3.jpeg?fit=1000%2C600"},"articleSection":"Solana","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["andrew kang","sol","sol price","solana","solana news","solana price","solana price prediction"],"dateCreated":"2024-06-20T13:00:01Z","datePublished":"2024-06-20T13:00:01Z","dateModified":"2024-06-20T13:00:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana Could Face A 41% Crash, Warns Mechanism Capital Co-Founder\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/solana-41-crash-mechanism-capital-co-founder\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/solana-41-crash-mechanism-capital-co-founder\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Solana-Ecosystem3.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Solana-Ecosystem3.jpeg?fit=1000%2C600\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"andrew kang\",\"sol\",\"sol price\",\"solana\",\"solana news\",\"solana price\",\"solana price prediction\"],\"dateCreated\":\"2024-06-20T13:00:01Z\",\"datePublished\":\"2024-06-20T13:00:01Z\",\"dateModified\":\"2024-06-20T13:00:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Solana-Ecosystem3.jpeg?fit=1000%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/625599"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=625599"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/625599\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/625614"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=625599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=625599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=625599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}