Solana (SOL) Could Fall 15% This Week, Here's Why
$SOL loses the support of one of the most important groups of investors - institutions
The loss of institutional investor support will likely lead to a major correction for Solana if SOL fails to address the issue.
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Institutions decided to take a break from Solana
The project's token, like any other cryptocurrency, will inevitably depend on the actions of institutional investors. They can play the role of a driver for both growth and price correction.
Perhaps the latter is what awaits SOL, as the altcoin has lost a significant amount of investment from institutional investors. According to the weekly CoinShares report, Solana, along with Bitcoin and Ethereum, recorded significant outflows.
Over the past week, institutions withdrew almost $5.6 million from the asset, resulting in the volume of investments as of the beginning of the month amounting to $18.2 million. The net inflow of capital into SOL since the beginning of the year amounted to only $1 million.
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