#MarketDownturn
Solana (SOL) Price Declines from Upward Trend
as Institutions Withdraw
The price of Solana (SOL) has seen a significant drop in the past ten days, impacted by the broader market collapse.
This decline has caused concern among institutional investors, prompting them to withdraw their funds from the cryptocurrency.
Growing Doubts about Solana among Institutions
Solana is currently priced at $137, attempting to recover from its lowest levels, which reached around $110 due to selling pressure. This decline reflects the behavior of institutions that have notably withdrawn over the past week.
According to a CoinShares report for the week ending August 3, institutional investors withdrew more than $528 million from cryptocurrency assets. While most of this outflow came from Bitcoin (BTC), Solana also saw outflows amounting to $2.8 million.
