Solana (SOL) has recently suffered a heavy blow, with a significant fall last night causing over 200,000 investors to fall into a loss state, and many large holders are facing the dilemma of liquidation. In the face of this situation, numerous institutional investors have spoken out to the U.S. Securities and Exchange Commission (SEC), calling for the inclusion of staking functionality when approving SOL's ETF this quarter. If this proposal is approved, SOL's market performance is expected to replicate the past glory of Ethereum.

However, the approval process currently seems to be at a standstill. For SOL holders, $160 has become the most critical support level. If this price level cannot be held, investors may need to seriously consider reducing their holdings.

At the same time, market participants are closely monitoring the movements of other digital assets, such as OM, SUI, FUN, and Bitcoin (BTC). It is worth noting that recent news about the U.S. government potentially imposing tariffs and the overall pullback trend in the cryptocurrency market have had a certain impact on the price of SOL.

As Ethereum is about to celebrate its tenth anniversary, whether SOL can break through its current predicament and regain investor confidence has become the focus of attention both inside and outside the cryptocurrency circle. The market trends in the coming weeks will be a crucial moment in determining SOL's fate, and investors need to remain vigilant and closely monitor market movements.