Solana is trading near $100.7, down 2.26% on the day. The token was sharply rejected at resistance and now sits just above support near $98. Traders are watching that level closely. A clean b
Solana is trading near $100.7, down 2.26% on the day. The token was sharply rejected at resistance and now sits just above support near $98.
Traders are watching that level closely. A clean break lower could open more downside, while a move back above $109 would change the mood.
SOL has a market cap of $59.17B. Circulating supply is 589.98M, and total supply is 636.63M.
Futures volume is $6.48B, up 28.73%. Open interest is $6.50B, down 1.14%.
That means more trading, but fewer open positions. Traders appear to be moving in and out quickly.
The overall long/short ratio is 0.9837. That is close to even, with a small bearish tilt.
Exchange data tells a different story. The Binance SOL/USDT account ratio is 3.2808, and OKX sits at 3.26. Binance top trader accounts show 3.7237, while top trader positions show 2.5107. Most accounts lean long.
Solana options are also active. Options volume rose 52.75% to $16.78M, and options open interest is $117.35M, up 3.15%.
Short-term numbers look small. In the past hour, $18.45K was liquidated, and $15.37K of that came from shorts. Over four hours, total liquidations were $114.19K, with shorts at $82.20K.
The longer window looks rougher. Over 12 hours, $4.84M was liquidated, and longs made up $4.55M. Over 24 hours, the total reached $11.20M, with $7.63M from longs and $3.57M from shorts.
So bulls took most of the damage during the drop. Bears have had the edge in the last few hours.
Solana spot ETFs saw a net outflow of $5.66M on Oct. 28. Cumulative net inflows still stand at $1.51B.
Total value traded was $55.74M. Total net assets are $1.56B, about 2.58% of SOL's market cap.
Only Bitwise's BSOL reported flows on the day. It lost 55.33K SOL, or $5.66M. The fund still holds $1.09B in net assets.
Fidelity's FSOL has $207.16M, and Grayscale's GSOL has $155.98M. The other funds showed no flows.
One red day does not erase $1.51B in total inflows. Still, it adds to the cautious tone.
Lookonchain said a whale dumped 1.02M SOL, worth $104.3M, over five days. The posted transfers went to Kraken, Bullish, Gate, Bybit, OKX, Binance, and Bitstamp.
Exchange deposits do not always mean a sale. But the size is hard to ignore at this price.
Solflare also posted an update. Its staking provider reported a security incident affecting keys tied to the Solflare validator. The validator is not producing rewards for now.
Solflare says user SOL is safe and no funds were touched. Stake will need to move to a new validator, and rewards will stay paused until then. The wallet says it will never DM users or send links.
Google unveiled Google Multi-Party Compute, an institutional custody system. It is in private preview with major financial institutions, and the commercial launch is set for early 2027.
The Solana account said Alphabet is securing its own digital assets on the network. It is not a quick price driver, but it is a notable name tied to the ecosystem.
More Crypto Online said SOL was sharply rejected at resistance and holds above support near $98.
A decisive break below $98.60 could start the next leg lower. The target area is $76.76 to $87.77, inside main support at $70.16 to $94.43.
On the upside, $109 is the level to beat. That was the Oct. 21 high. Above it, another push higher becomes more likely.
For now, Solana sits between a nervous derivatives market, mild ETF outflows, and large exchange deposits. The next move may depend on whether buyers can defend $98.
This article is for information only and is not financial, investment, or trading advice. Cryptocurrency prices are highly volatile, and you can lose some or all of your money. Past performance does not guarantee future results. Always do your own research before making any investment decision.
