SOL Institutional Discount Overhang
SOL was sold at massive discounts to hedge funds, affecting market prices.
Too little corroboration in the last 3 days to call a trend (3 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"SBI Holdings just partnered with the Solana Foundation to build an onchain financial market from Japan, according to The Block. This deal adds institutional weight but has done nothing for the price this week."
"SOL trades at $85, down 71% from its November 2024 all time high of $294 according to CoinMarketCap. Even a full recovery to $294 delivers a 3.5x, strong for a large cap but nowhere near what a presale before a listing can offer."
"Sunil Kavuri backed Woo’s thesis, adding that buyers like Galaxy Digital and Pantera Capital snapped up locked SOL at massive discounts: $64–$102 per SOL when the market price was $192."