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Analysis: Solana is suspected to have encountered institutional dumping, with the price falling below a key support level.
Golden Finance reports that Solana (SOL) experienced a massive sell-off at midnight GMT, with the volume surging to 1.26 million SOL, causing the price to fall from $177 to $170.41, a drop of about 4.5%. Analysts point out that this decline is mainly influenced by global trade disputes and uncertainty in monetary policy, leading institutional investors to choose to reduce their holdings in risk assessments. However, despite the market pressure, the collaboration between the Solana Foundation and R3 is still progressing, with plans to achieve the tokenization of $10 billion in assets on its blockchain.