Solana (SOL) posted its eighth consecutive monthly loss in May, indicating the persistent selling pressure despite a growing list of institutional partnerships and blockchain-based financial initiatives. The ongoing downtrend shows a disconnect between Solana’s expanding real-world utility and investor sentiment, with broader market weakness continuing to weigh on the token’s price performance. The momentum indicators remain extremely bearish, indicating that the market selloff might not be over yet. Institutional adoption accelerates across the Solana network SOL has lost 10% of its value in the last 24 hours and is now trading around the $67 mark. The bearish performance comes despite growing institutional adoption across the Solana network.
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