Analysis: Institutional Investors Suspected of Recently Selling SOL Causing Price to Fall Below Key Support Level

According to reports from HashKey Group, a large-scale sell-off of Solana (SOL) occurred at midnight GMT, with trading volume surging to 1.26 million SOL, causing the price to drop from $177 to $170.41, a decline of approximately 4.5%, and falling below the key support level of $172. Analysts indicate that this decline is primarily influenced by global trade disputes and uncertainties in monetary policy, leading institutional investors to choose to reduce their holdings in risk assessments. However, despite market pressure, the collaboration between the Solana Foundation and R3 is still progressing, with plans to tokenize $10 billion in assets on its blockchain.