SOL Price Drops Below $200 Amid US-China Trade Tensions
SOL, the native coin of the Solana blockchain, has dipped below $200 after 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, causing Solana's SOL to underperform in recent days.
- SOL has lost 1% of its value in the last 24 hours.
- The coin is now trading at $195 per coin.
- Market volatility remains a significant factor in the current market conditions.
The Chinese government announced that its levies are designed to safeguard the country’s shipping industry from “discriminatory” measures.
In response to US fees on Chinese ships, China will apply levies to US-owned, operated, built, or flagged vessels, but not to Chinese-built ships.
Author's summary: SOL dips below $200 amid trade tensions.