SOL Dips Below $200 Amid US-China Trade Tension
SOL is trading below $200 after losing 1% of its value in the last 24 hours, due to the persistent bearish trend in the market.
The native coin of the Solana blockchain has underperformed in recent days as trade tension between the United States and China escalates, triggering uncertainty and a risk-off sentiment in the cryptocurrency market.
- SOL has lost 1% of its value in the last 24 hours and is now trading at $195 per coin.
- The Chinese government has announced levies to safeguard its shipping industry from "discriminatory" measures.
- These levies will be applied 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: SOL dips below $200 due to US-China trade tension.