Solana has slightly recovered following the heavy selling pressure on Wednesday. The coin dipped 3% on Wednesday amid strong bearish momentum. The bearish trend was due to the weakening institutional inflows and declining activity in the derivatives market. This suggests that both institutional and retail investors are becoming increasingly cautious. The broader risk-off sentiment across the cryptocurrency market has further weighed on SOL’s short-term outlook. SOL ETF outflows show declining institutional demand Institutional demand for Solana eased significantly this week. According to CoinGlass data, spot Solana exchange-traded funds (ETFs) recorded $8.60 million in net outflows on Wednesday, nearly wiping out the inflows reported on Monday and Tuesday.
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