PANews, May 25 news, according to CoinDesk, Solana (SOL) experienced a massive sell-off 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 about 4.5%, also breaking below the key support level of $172.
Analysis points out that this decline is mainly influenced by global trade disputes and uncertainty in monetary policy, leading institutional investors to choose to reduce holdings in their risk assessments. However, despite the market pressure, the collaboration between the Solana Foundation and R3 is still progressing, with plans to tokenize $10 billion in assets on its blockchain.
