Overview
- SOL slipped below $100 and briefly tested the $90 area, with technicians highlighting bearish structures and key support in the $90–$95 zone.
- Derivatives stress intensified, including more than $70 million in liquidations on Solana‑based perpetuals and a jump in futures volumes, compounding downside pressure.
- On‑chain activity remains robust, with January processing over 2.34 billion transactions, daily counts topping 100 million, DEX volumes rising, and TVL hitting a record 73.4 million SOL (about $7.5 billion).
- Institutional interest persists, with U.S. spot Solana ETFs recording January net inflows and Bitwise’s BSOL absorbing 78% of SOL ETF net inflows since October 2025, placing over 1% of supply under ETF management as treasuries hold nearly 3% of SOL.
- Standard Chartered raised its intermediate roadmap to $400 (2027), $700 (2028) and $1,200 (2029), and expects Solana to lag Ethereum through 2026–2027 as the payments use case scales.