Solana Price Falls Despite Rising Transactions and ETF Inflows

Key Insights

• Solana price continued its strong downward trend on Friday.
• The number of monthly transactions are nearing the 3 billion milestone.
• Spot Solana ETFs have had inflows this year while Bitcoin and Ethereum have had outflows.

Solana price remained in a deep sell-off this week, continuing a downward trend that started in January. SOL price dropped to a low of $79 on Friday, much lower than the all-time high of $295.

This sell-off has happened despite rising transactions, addresses, fees, and exchange-traded fund (ETF) inflows. So, will the token rebound or continue falling?

Solana price has been in a strong downward trend in the past few months. It’s a trend that has continued despite the ongoing network metrics.

Data compiled by Nansen shows that Solana has become the fastest-growing network in the crypto industry.

The network handled over 2.7 billion transactions in the last 30 days, up by 54% in the last 30 days. Its total transactions are nearing the 3 billion mark, a trend it may get to in the coming months.

The soaring transactions are more than those of other blockchain networks. This includes popular names like Ethereum, Avalanche, BNB Chain, Arbitrum, and Tron.

Ethereum handled over 73 million transactions, while Avalanche processed 75 million. Its transaction count was much higher than that of other networks combined.

The same trend is happening in terms of active addresses. Data shows that the network had over 118 million users, much higher than other chains combined. Ethereum had over 15.3 million users, while BNB and Tron had 42 million and 15 million, respectively.

More data shows that Solana’s fees have soared in the past few months. Its fees jumped by nearly 70% in the last 30 days to over $26 million.

Solana’s metrics have surged in recent months. The blockchain gained market share in stablecoins and decentralized exchanges. It also expanded into real‑world asset tokenization, strengthening its position among leading crypto platforms.

Data shows that the stablecoin supply has jumped to over $17.1 billion. On the other hand, the number of addresses has risen to 5.2 million.

The number of transactions rose to over 327 million. At the same time, the adjusted volume has risen to over $698 billion. Solana takes a tiny amount whenever stablecoin transactions pass the network.

The same trend is happening in the DEX industry. There, the network handled transactions worth over $128 billion in the last 30 days. That’s higher than Ethereum’s $65 billion and BNB’s $56 billion.

Most importantly, more companies are embracing Solana for their tokenization projects. A good example of this is Citigroup, one of the biggest global banks, which selected it for its tokenized funds.

Data shows that Solana’s distributed asset value jumped by 37% in the last 30 days to over $1.6 billion. On the other hand, the number of RWA holders has jumped by 113% to 285,551. RWA transfer volume rose by 20% to over $2.14 billion.

Meanwhile, there are signs of demand for Solana in the United States despite the ongoing crypto market crash.

A good example of this is in the ETF market, where the inflows have jumped by over $2.68 million in the last 30 days. At the same time, Ethereum and Bitcoin have had outflows. In total, Solana ETFs have had inflows in all months since their launch in October last year.

The weekly chart shows that the SOL price has collapsed despite the ongoing network metrics. It has dropped for five straight weeks. Solana price moved below the 61.8% Fibonacci Retracement level. That key level stood at $117, marking a significant technical break in the current trend.

The coin has formed a multi-year head-and-shoulders pattern, a common bearish reversal sign in technical analysis. It has already moved below this pattern’s neckline, confirming the bearish outlook.

The Relative Strength Index (RSI) has moved to the oversold level of 30. At the same time, the Average Directional Index (ADX) has jumped to 28, a sign that the downtrend momentum is accelerating.

Therefore, the most likely SOL price prediction is bearish, with the next key support being at $50. This retreat, however, will then reverse in the coming months as it has done in the past.

The post Solana Price Prediction as Monthly Transactions, Spot SOL ETF Inflows Rise appeared first on The Market Periodical.