Crypto: Sol Drops To $95 As Bitcoin, AI Stocks And Gold Sell Off: Will...
SOL falls to lows not seen since April 2025, but Solana’s price-to-fundamentals gap and its wider correlation to macro markets may provide hope for investors.
SOL fell to 2026 lows as tech sector layoffs and artificial intelligence revenue concerns hit markets.
Despite the bleak environment, Solana outpaced competitors with network fees jumping 81%, securing its vice-leadership.
Solana’s native token, SOL (SOL), traded down to $100.30 on Saturday, reaching its lowest levels since April 2025. While the 18% price correction over 30 days took traders by surprise, the movement largely mirrored broader altcoin market capitalization trends. A 26% crash in silver prices on Friday further prompted cryptocurrency traders to brace for additional downside.
SOL was able to reclaim the $102 level on Saturday, but sentiment remained weak after $165 million in leveraged bullish positions were forcefully liquidated. Sentiment worsened following escalating tensions in Iran and fears of an economic downturn after Amazon (AMZN US) announced 16,000 white-collar job cuts on Wednesday.
Investors grew more risk-averse upon learning that OpenAI accounted for 45% of Microsoft’s (MSFT US) Azure cloud computing backlog. Additional tension stemmed from a Wall Street Journal report stating Nvidia (NVDA US) would no longer invest $100 billion in OpenAI. The ChatGPT maker is reportedly expected to face $14 billion in net losses in 2026, according to The Information.
Despite the bleak socio-political environment, Solana onchain activity has outpaced its competitors, consolidating its position as the runner-up in network fees and Total Value Locked (TVL). Healthy onchain metrics provide a dual benefit to the native token: they increase staking returns to incentivize long-term holding while creating constant demand for data processing fees.
Solana network fees jumped 81% above the trend over the past 30 days, according to Nansen data. Additionally, active addresses grew by 62%, and transactions soared to 2.29 billion. In comparison, the Ethereum ecosystem—including layer-2 solutions—totaled 623 million transactions, while Ethereum base layer fees grew by only 11%. Solana remained the clear leader in decentralized application (DApp) activity.
Related: Active Solana addresses spike 115%, four in 10 merchants take Bitcoin–Month in Charts
Demand for leveraged bullish positions on SOL vanished as traders sought safety in cash and short-term government bonds. Multi-billion dollar tech c
Source: CoinTelegraph
