Overview
- SOL traded around $122–$124 on Dec. 24 after repeated failures to reclaim $126–$130, with charts showing a bearish flag and price holding below key moving averages.
- Network usage has cooled over the past month, with transactions down 10% to 1.79 billion, active addresses down 5.7% to 60.1 million, and fees down 21% to $14 million, while TVL sits near $18.57 billion versus a $30 billion YTD high.
- U.S. spot Solana ETFs logged steady December net inflows, including more than $69 million recently, with cumulative totals reported above $754 million even as Bitcoin and Ethereum products saw outflows.
- CoinGlass data highlight liquidation clusters, with about $89.5 million in long exposure concentrated near $123.3 and roughly $204.2 million in shorts near $129.5, signaling elevated squeeze risk around those levels.
- SOL has fallen roughly half from recent peaks, with reports of a sharp drop in monthly active traders and a heavier tilt toward retail and memecoin-driven activity weighing on near-term demand.