SOL has fallen below the key price level for the first time in three years, ordinary holders' losses may trigger panic selling

Odaily Planet Daily reports that SOL has fallen below $134 for the first time since May 2022, indicating a bearish trend and suggesting that ordinary SOL holders are in a loss. This could trigger panic selling, but if the support at $120 remains unchanged and breaks through at the price level of $128, it may rebound to $134. The decline coincides with the community's latest proposal SIMD-0228. Current circumstances suggest that this proposal is likely to pass, which is expected to have a significant impact in the short term.

However, after the approval of SIMD-0228 proposal, users who stake SOL face risks of reduced returns. To avoid losses, some staking users may choose to unstake and withdraw their tokens. Although this change might cause market fluctuations in the short term, from a long-term perspective, this proposal aims to solve SOL's inflation problem which will help improve overall network health and sustainability.