Solana saw a week of heavy, on-chain spot trading and record derivative interest that pushed SOL higher. Strong DEX activity, rising TVL and notable institutional inflows underpin the move, with key resistance around $138–$145.

Over the past week Solana (SOL) has shown concrete signs of weakening: Total Value Locked (TVL) has dropped to roughly $8.7B, transaction volumes and active addresses have fallen sharply, memecoin activity has collapsed, and technical patterns point to potential downside toward the $80–$100 range. This article synthesizes on-chain data and market signals traders should monitor.

Solana (SOL) dropped nearly 8% amid a market-wide correction and large whale transfers to exchanges, even as protocol upgrades and rising TVL/DEX volume support medium-term fundamentals. This article breaks down the price drivers, on-chain flows, and upgrade-related demand signals that shaped SOL’s recent volatility.

Last week Solana saw tangible institutional adoption and a spike in retail-driven on-chain activity. J.P. Morgan executed a $50M commercial paper issuance on Solana, Visa expanded USDC settlement pilots on the chain, and the Pump.fun memecoin minting hub continued to dominate token creation and DEX activity. These events boosted on-chain volume and shifted attention toward Solana’s role in payments and tokenized finance.

Concrete on-chain integrations and institutional product launches this week — a Base–Solana CCIP bridge, a Franklin Templeton spot SOL ETF and a $1B RWA lending initiative — moved SOL price and trading activity, producing intraweek dips followed by a sharp ETF-driven uptick.

Solana (SOL) experienced a sharp price decline despite substantial early inflows to new Solana-focused ETFs. Bitwise’s spot Solana staking ETF drew roughly $420M in its first week, even as SOL fell as much as ~20% in the same period. At the same time, CoinShares abandoned plans for a U.S. Solana staking ETF, removing a potential future source of demand. This article examines the concrete events — ETF flows, issuer decisions, and short-term selling pressure — that drove recent SOL price and volume fluctuations and outlines what traders should watch next.