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Solana price hits multi-year low near $60 amid whale sell-off and market pressure

Market News
06 Jun 2026
Crypto news
View Source
Bearish
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Solana's price dropped to around $60, its lowest in years, driven by a $31.9 million transfer of SOL by major holder Forward Industries to Coinbase Prime, signaling potential sell-off by large investors. The token has lost about 50% since the start of the year amid broad crypto market declines, ETF outflows, and heavy liquidations. Technical indicators suggest further downside risk to the $50-$55 range if current support breaks. Market conditions remain challenging due to weak institutional demand, macroeconomic pressures, and geopolitical tensions, keeping Solana under selling pressure.

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