Solana (SOL) price dropped to $89 on Monday this week, hitting the lowest level since 2024. It is currently hovering around $91, representing a cumulative decline of over 16% in the past week. Against the backdrop of Bitcoin falling below $73,000 and Ethereum losing the $2,100 support, SOL repeatedly failed to hold above the $100 support level, indicating short-term downward pressure.
Notably, while the price weakened, the Solana network maintained high activity. On January 30, the blockchain processed approximately 148 million transactions (excluding governance votes), one of the highest levels in history, demonstrating that users are still actively using the network. This divergence of “price decline, usage increase” highlights a disconnect between current market sentiment and fundamentals.
Institutional deployment also continues. The market capitalization of tokenized stocks on the Solana chain has reached $230 million. WisdomTree recently expanded some of its tokenized investment products to this network. Meanwhile, payroll platform GustoHQ has begun conducting real-time cross-border settlements via USDC on Solana, reflecting ongoing enterprise adoption.
However, funding and derivatives data remain cautious. Over the past three weeks, the average daily inflow into Solana-related ETFs has been less than $9 million, with some trading days even experiencing net outflows. Open interest has decreased to $6.37 billion, and the weighted funding rate is negative, indicating a market leaning toward defense. Technically, SOL has broken below several key moving averages, with RSI near 28, suggesting short-term volatility risks.
Structurally, resistance is seen between $93 and $97. Only if the price reclaims $100 can selling pressure be alleviated. Despite short-term pressure, some institutions remain optimistic about the long-term outlook. As Solana expands into high-frequency trading, micro-payments, and artificial intelligence applications, its network value still holds potential.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Base58 Labs’ BASIS 2026 Blueprint Forges a New Standard for BTC, ETH, SOL & PAXG
[PRESS RELEASE – London, UK, March 17th, 2026]
New roadmap positions BASIS as an institutional-grade digital asset management platform built for macro volatility, tokenized safe-haven demand, and frictionless Web3 onboarding.
Base58 Labs today unveiled the BASIS 2026 Technical Blueprint &
CryptoPotato2h ago
Solana Holds Near $93 as Weak Volume Clouds Breakout Outlook
Key Insights
Solana trades near $93 within a narrow range as neutral indicators and weak volume highlight indecision and limit conviction in short-term price direction.
Key resistance near $94.81 and support around $81.78 define the range, with breakouts likely to trigger stronger
CryptoNewsLand3h ago
Solana (SOL) Price Flashes “Buy” Signal, But the Setup Could Trap Buyers
Solana price action has slipped into a quiet but tense zone near $83, and a fresh signal from a popular indicator has started to draw attention. The latest chart shared by Ali Charts points to a possible rebound, yet the broader structure tells a more cautious story.
Ali Charts highlighted
CaptainAltcoin3h ago
USD1 supply grew by $1.1 billion from the end of January, with the Solana chain growing by $720 million
Gate News reported on March 27 that, according to Yu Jin monitoring, the supply of the USD1 stablecoin has increased from $3.3 billion to $4.4 billion since certain CEX-related activities began at the end of January, an increase of $1.1 billion. The main growth came from the Solana chain, where its supply increased from $160 million to $880 million, an increase of $720 million. The remaining $380 million increment is distributed across the BNB Chain and the Ethereum network. Currently, USD1 is mainly distributed on the aforementioned three blockchains.
GateNews4h ago
