Solana's Price Tumbles to Two-Year Low Amid Intensifying Institutional Selling

Solana's price has been on a downward trend, with the cryptocurrency reaching its lowest level since November 2023. The current support zone of $60 is under intense scrutiny as institutional selling pressure intensifies.

The decline in Solana's price is attributed to various factors, including growing losses among companies holding the asset in their corporate treasuries. Forward Industries, for example, has reportedly suffered an unrealized loss of over $1.3 billion from its SOL holdings.

As a result, investors may become more cautious about companies that have built large positions in Solana, potentially discouraging new institutional purchases and increasing the risk of further selling.