SOL Sinks Below $150 Despite Momentum Around Institutional Adoption

SOL Sinks Under $150 as Sell-Off Hits, But Institutional Players Keep Faith

Solana’s SOL token faced a rocky session on Tuesday, plunging to $149.46 amid a wave of late-evening selling that erased prior gains. Yet despite the setback, institutional interest in Solana as a long-term rival to Ethereum remains strong.

SOL dropped 4.24% over 24 hours, sliding from highs of $158.54 after a rapid sell-off broke the crucial $155 support level late Monday. The plunge triggered a flurry of trading activity, sending the token to a low of $148.68 before it found footing around the $150 mark.

The downturn hasn’t deterred institutions. Cantor Fitzgerald just launched coverage of three publicly listed firms—DeFi Development Corp (DFDV), Sol Strategies (HODL), and Upexi (UPXI)—that hold SOL in their corporate treasuries. The firm gave all three stocks “overweight” ratings, spotlighting Solana’s accelerating developer growth and network efficiency compared to Ethereum.

Cantor’s report noted Solana’s superior transaction throughput and low latency, suggesting it could ultimately emerge as a formidable challenger to Ethereum, even though ETH still commands a market capitalization more than 2.5 times that of Solana.

While SOL’s weekend rally has faded, traders remain focused on whether the token can defend the $148–$150 support range or face further selling in the days ahead.

Technical Picture

• SOL-USD fell 7.0% from $158.804 to $147.746 during the reporting period
• Heaviest losses occurred between 22:00 and 00:00 UTC, with over 2.7 million SOL traded
• SOL later consolidated between $151–$154 in a tighter range
• The $152–$153 area flipped from support to resistance
• Quick drop from $153.118 to $152.680 on a burst of 150,000 SOL volume
• Price settled into a narrow band, signaling hesitation from traders waiting for the next move