Mastercard just officially announced the partnership, on-chain data is still fresh, and prices have already dropped—institutional narratives and retail chips are never on the same wavelength.

Bijiang News: After Solana’s price broke below its major support level since February, it has entered a high-risk zone and faces further downside risk. On June 4, Solana’s price was approaching $73, down more than 12% over the past week. The token broke through the long-term support zone at $76.6, with daily trading volume accelerating and selling pressure intensifying. This round of decline was accompanied by derivatives traders closing their heavily held long positions, with more than $3.8 million worth of SOL longs forcibly liquidated in a short period. Meanwhile, market sentiment deteriorated due to geopolitical tensions in the Middle East; oil prices rose, prompting investors to shift to safer assets and adding pressure to cryptocurrencies. Despite weak price performance, network activity remains strong, with Mastercard recently choosing Solana as one of eight blockchain networks supporting its payment infrastructure.