Solana's recent price movement has been marked by significant selling pressure, with over $110 million worth of tokens moving onto exchanges within a 72-hour window.
This large influx of tokens has added to an already bearish technical setup, with analysts noting a breakdown from a daily bear flag and a loss of key market structure levels.
However, despite the short-term weakness, Solana's network continues to see real-world adoption, with SoFi launching an enterprise banking platform built on the blockchain and real-world asset tokenization surpassing $2 billion.