Solana Price Slips to Near $101 Amid Global Market Volatility

Solana's price has slipped to near $101 on September 10, prompting concerns that it may fall below $100. The token has dropped by 3.5% in the past 24 hours, with CoinGecko data placing its value at $100.96.

The decline comes as global markets experience a risk-off move, with oil prices surging above $100 per barrel due to increased tensions between the US and Iran. This has raised concerns over inflation, particularly ahead of key inflation data and next week's Federal Reserve decision.

According to CoinGecko, Solana remains up 1.1% over the past seven days and 34.5% over the past 30 days. However, traders are pricing in a roughly 60% probability of another Federal Reserve rate increase following strong labour market data.