$SOL 🚨 Solana (SOL) continues to suffer losses as selling pressure intensifies in the market, with its price dropping during trading on February 4 to levels considered among the most sensitive in months, while price signals vary with indicators of fundamental activity on the network.
🚨 Solana was trading near $97 at the time of publication, down 6.1% over the last 24 hours, stabilizing near the lower end of its weekly range between $96 and $127. Thus, the currency has lost about 23% of its value over the week and around 31% over the month, declining by nearly 66% from its all-time high of $293 recorded in January 2025.
🚨 Despite this drop, liquidity witnessed notable activity, as the spot trading volume increased by 32% to $6.55 billion over 24 hours, indicating increased interaction from traders as the price approaches key support levels. The volume of futures trading jumped by 40% to $17.17 billion, while open interest rose to $6.48 billion, reflecting continued bets on price movements instead of a mass exit from the market.
🚨 This price decline comes at a time when the Solana network is recording strong operational performance, having processed over 2.34 billion transactions during January, a monthly increase of 33%, surpassing the total transactions of the Ethereum, Base, and BNB Chain networks combined. Data also showed a growing interest from institutional investors, with Solana's exchange-traded funds in the United States attracting inflows of $104 million during January, in contrast to Bitcoin and Ethereum funds which recorded net outflows. $ETH $USDC #DPWatch #TrumpEndsShutdown #GoldETF
