Solana's Price Plummets to $101 as Network Fundamentals Soar

Solana's price has dropped to $101 after losing its support zone at $103. This zone was significant because it held about 6.7% of the total supply, or roughly 39 million SOL.

Despite the drop in price, Solana's network fundamentals are at all-time highs. The network is processing 88 million daily transactions, with a decentralized exchange volume of $1.96 billion and on-chain stablecoin supply reaching $15.8 billion.

The tokenomics of Solana have also been changing. Eight spot ETFs hold over $1.41 billion in assets, but the flow rate has broken down, with weekly inflows falling 96% to just $6.18 million.