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The price of Solana (SOL) coin has recently performed brilliantly, breaking through the $200 mark. Currently, this rise has brought investors a substantial return of 13%. Many traders who have gotten on board with the trend are enjoying the benefits of this pump.
However, as the price rises, some large holders have begun to gradually reduce their positions to take profits. Their strategy is to gradually exit at the current high levels while retaining some positions to wait for further market developments. If the SOL price falls below $195, these traders may choose to liquidate their positions completely.
At the same time, the market is full of expectations for Ethereum to create new historical highs. This reflects the overall optimistic sentiment in the cryptocurrency market, especially among mainstream coins.
Overall, the current trend of SOL demonstrates the high volatility and profit opportunities in the cryptocurrency market. However, investors also need to be vigilant, as risk management becomes particularly important amid such dramatic price fluctuations.