#MarketDownturn

$SOL

Solana (SOL) Price Fails to Uptrend as Institutions Pull Out

Solana (SOL) price has reacted to the broader market crash as the altcoin has seen a significant drop in the past ten days.

This has created panic among institutional investors who have opted to pull their money out of the asset.

Solana Institutions Turn Skeptical

Solana price is at $137, trying to recover from yesterday’s lows. SOL hit a low of around $110 due to selling pressure, which has been evident in institutional behavior for over a week.

According to CoinShares, for the week ending August 3, institutional investors pulled over $528 million from crypto assets. While most of the outflows came from Bitcoin (BTC), Solana also saw outflows of $2.8 million.