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, affecting SOL's performance.
- SOL has underperformed in recent days, dropping below the $200 mark.
- The coin is currently trading at $195 per coin, with market volatility still evident.
The Chinese government announced that its levies are designed to safeguard the country’s shipping industry from “discriminatory” measures.
This move is in retaliation for US fees on Chinese ships, with the US imposing fees on Chinese-owned, operated, built, or flagged vessels.
Author's summary: SOL dips below $200 due to US-China trade tensions.