#SOL Solana faces bearish pressure, price drops, significant holder reduction
Solana
$SOL price has plummeted, market participation has decreased, and various factors have contributed to its downturn. Analysts reported a recent sell-off event involving $Libra, and the unlocking of 11.2 million SOL on March 1 has raised liquidity concerns.
Market performance and trading trends
Solana's price has been trading within a downward channel, indicating a continued downward trend. After a rise in early January, the asset reached a local high point in mid-January. However, bearish momentum followed, lea