Solana (SOL) declined 5% on Thursday despite DeFi Development Corporation's (DFDV) purchase of 86,307 SOL at $110.91 per token, expanding its holdings above the 2.1 million SOL threshold.
Solana (SOL) price trades below $200 at the time of writing on Tuesday, after facing rejection from the key resistance zone. The broader crypto market came under pressure as escalating US-China trade tensions fueled risk aversion among investors.
Solana (SOL) is trading in the red, currently below $209 at the time of writing on Wednesday, having declined by more than 10% so far this week. On-chain and derivatives data further support the bearish view, as declines in daily active addresses, rises in short positions, and seller dominance.