Solana (SOL) experiences a price decline amid broader market downturn.
Institutional investors withdraw $2.8 million from SOL in the week ending August 3.
Technical indicators suggest ongoing selling pressure, but critical support remains intact.
Solana (SOL) has recently encountered substantial headwinds, mirroring the broader cryptocurrency market’s downward trend. The digital asset’s value has seen a notable decrease over the past ten days, prompting a reassessment of its market position by various stakeholders.
Solana Institutional Investors Respond to Market Shifts
According to data from CoinShares, the week concluding on August 3 witnessed a significant outflow of institutional capital from crypto assets, totaling approximately $528 million.
While Bitcoin (BTC) accounted for the majority of these withdrawals, Solana also experienced a noticeable exodus of funds, with $2.8 million being pulled out by institutional investors.
Interestingly, other alternative crypto
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