Solana’s cryptocurrency token, SOL, came under fresh selling pressure on Tuesday, trading around $121 to $122 as broader weakness continued across the digital asset market. Prices fell between 2.5% and 3.9% over the past 24 hours, according to market data.
The decline leaves SOL down roughly 35% for the year and about 58% below its all-time high of $295, reached in January 2025. Despite the drop, analysts say the token is holding near a key support range between $120 and $124, which has acted as a “triple bottom” in recent trading.
Market data shows that around $90 million in leveraged long positions could face liquidation if prices fall further. However, institutional interest has offered some support, with spot Solana exchange-traded funds (ETFs) recording a monthly inflow high of $66 million, even as the wider crypto market saw outflows.
While prices have struggled, Solana’s network recorded several major milestones in 2025. The blockchain surpassed Ethereum in annual revenue, generating about $2.85 billion, driven by activity in decentralised finance, artificial intelligence-based applications and stablecoins.
Other developments this year included the launch of multiple Solana ETFs, integration with the Kalshi prediction market, the release of the Solana Seeker mobile phone, and the rollout of the Firedancer validator client on mainnet, aimed at improving speed and reliability.
Corporate involvement in Solana also grew, though not without challenges. Upexi, a company holding around 2.1 million SOL valued at roughly $262 million, filed a $1 billion shelf registration as it navigated volatility in its crypto treasury strategy.
Despite current price pressure, total inflows into Solana ETFs have climbed to about $750 million, with steady purchases in the United States since early December. Analysts say this trend suggests longer-term confidence in the network, even as short-term market sentiment remains cautious.
