SOL (Solana) down 4.72% in the last 24 hours

Gate News Bot Message, December 30th, according to CoinMarketCap data, as of press time, SOL (Solana) is currently priced at $122.79, down 4.72% in the past 24 hours, with a high of $129.30 and a low of $119.90. The 24-hour trading volume reached $3.884 billion. The current market capitalization is approximately $69.103 billion, a decrease of $3.423 billion from yesterday.

Recent Key Drivers for SOL:

1️⃣ Spot ETF Capital Flows and Institutional Allocation Divergence Amid ongoing outflows from Bitcoin and Ethereum ETFs, Solana spot ETFs have shown relative resilience. In the past week, Solana ETFs recorded approximately $13.14 million in net inflows, with total assets exceeding $755 million. This contrasts sharply with Bitcoin ETFs experiencing outflows of 3495 BTC (about $3.06 billion) and Ethereum ETFs outflows of 17969 ETH (about $52.74 million). From a broader asset rotation perspective, Solana and mainstream altcoin ETFs like XRP have recently attracted over $77 million in net inflows against the trend, reflecting that institutional investors, amid a general de-risking trend, still selectively allocate to high-liquidity mainstream assets rather than initiating a full altcoin season.

2️⃣ Ecosystem Infrastructure Upgrades and Long-term Competitiveness The Solana Foundation launched infrastructure innovations such as the ConnectorKit wallet connection SDK and Kora fee relayer, supporting features like fully paid transaction fees and customizable fee tokens, effectively lowering user adoption barriers. Circle’s ongoing large-scale USDC burns and re-minting on the Solana network (totaling 55 billion USDC burned since 2025) indicate ongoing optimization of the stablecoin ecosystem and suggest deepening on-chain economic activity. Co-founder of Multicoin predicts that by the end of 2026, Solana’s mainnet transaction volume in spot and perpetual contracts will rival or even surpass major centralized exchanges, reflecting market optimism about Solana’s transaction infrastructure development potential.

3️⃣ On-chain Fundamentals and Validator Structure Adjustment SOL staking has reached a new high of 409 million tokens, indicating increasing network security and long-term participation. The number of RWA (Real World Asset) holders on Solana has surpassed 115,000, growing about 11% in the past 30 days, with on-chain tokenized stock value reaching $185 million. On-chain revenue-generating activities are becoming a new growth driver. However, the Foundation’s significant subsidy cuts to small validators have reduced validator count from 2,500 to 800. While this decreases direct Foundation intervention, compared to Ethereum’s nearly one million validators and high decentralization, Solana’s level of decentralization still lags significantly, which may be a hidden factor behind cautious market sentiment.

4️⃣ Short-term Price Pressure and Technical Divergence Signals Over the past 30 days, SOL has declined approximately 12%, with current prices oscillating between $122 and $129. Technical indicators show RSI near 40, indicating a weak neutral position, and MACD remains below the signal line, suggesting short-term downside pressure has not fully eased. However, a divergence on the two-day chart shows RSI rising while prices hit new lows, hinting at a potential reversal. Derivatives data indicate some whales have begun taking profits on SOL short positions, creating conditions for an upward breakout. Historically, SOL’s average return in January is close to 59%, and the higher probability of a rebound in January after a December decline adds seasonal optimism to the recent seemingly bearish price performance.

This message is not investment advice; please be aware of market volatility risks.