Pantera Fails to Keep Solana from Falling Amid Market Pressure
Date: 2025-08-27 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
The cryptocurrency market is under pressure again, and Solana has become one of the victims. Even Pantera Capital's announcement of its intention to raise $1.25 billion to create an investment vehicle focused on Solana and ready for listing on Nasdaq could not change the situation: the price of SOL has fallen by almost 10% over the past day.
It was previously reported that Pantera plans to structure the project under the name Solana Co.. Initially, the fund expected to raise $500 million, invest its own $100 million, and raise another $750 million if necessary. These funds were to be used to purchase SOL and strengthen its market position. However, the effect was the opposite: the market did not support the initiative, and the decline continued.
Along with the price, open interest in Solana futures also fell, decreasing by 11% to $11.38 billion. Typically, such a movement signals that market participants prefer to close positions instead of opening new ones. This indicates a decrease in confidence among traders and a weakening of speculative interest in the asset.
The technical picture does not look optimistic either. On the daily chart for SOL, a bearish MACD signal is forming: the blue line of the indicator has dropped below the orange one, which is traditionally considered a warning of a possible further decline. Such intersections often become a reason for massive sales and additional pressure on the price.
Analysts note that if the current trend continues and the selling pressure intensifies, the quote may fall to $171.88. At the same time, if buying activity resumes, the bulls still have a chance to return the price to $195.55. Thus, the coming days will be decisive for the further dynamics of Solana.
Despite Pantera's claims and the prospect of a major public instrument based on SOL, current events show that global market sentiment has a much greater impact than individual investment initiatives. For investors, this is a signal that even large capital injections cannot always offset the overall pressure in the sector.
The situation around Solana highlights the growing role of macro trends in the crypto industry: local news loses its meaning if the overall market is bearish. Now traders' attention is focused on whether buyers will seize the initiative or whether bears will finally consolidate their advantage.
