Solana Plunges Amid Macro Uncertainty

Solana's price dropped to $175 on Monday despite attracting nearly $199 million in institutional investment through newly launched exchange-traded funds over the past week.

The cryptocurrency traded around $175, down 6.4% in 24 hours and extending a week-long slide that has wiped out almost 12% of its value, even as three major asset managers accumulated more than $500 million in total Solana holdings.

The disconnect between institutional appetite and market performance reflects broader uncertainty gripping digital asset markets. President Trump's announcement of reduced tariffs initially sparked optimism, but traders remain wary of potential policy reversals that could trigger broader selloffs.