- Solana has failed to reverse its downward trajectory despite the minting of USDC stablecoins totaling over $9.5B.
- At the time of writing, Solana is trading at $127.48, down 7.81% in the last 24 hours.
Traders are re-evaluating the effects of trade tensions on world economic activity and US President Trump’s Bitcoin Reserve order, which has caused the cryptocurrency market to continue bleeding. The overall market capitalization of all cryptocurrencies fell, with bitcoin price diving to $81k range. And that’s despite Trump’s Thursday Executive Order, which authorized the formation of a digital asset stockpile and officially established the Strategic Bitcoin Reserve.
Although Solana is one of three cryptocurrencies listed in the Digital Asset Stockpile of US President Donald Trump, the decline has occurred anyway. According to CMC statistics, Solana price has declined by nearly 28% in the last 7 days. Even though it received $10 billion in fresh liquidity and was included in the US Digital Asset Stockpile.
Bears in Total Control
Solana has failed to reverse its downward trajectory despite the minting of USDC stablecoins totaling over $9.5 billion since January 1, 2025. The newly created liquidity has allegedly gone into memecoins instead of increasing the price of SOL, according to some analysts. Further, as per analysts, after the latest wave of memecoin scams, investors may be looking for safer assets, which might explain some of Solana’s fall.
At the time of writing, Solana is trading at $127.48, down 7.81% in the last 24 hours. Moreover, the trading volume is up 64.49%. The SOL price is down 33.95% in the last 30 days.
The price recently broke below the $131 support level. If the bears drive the price below $124 mark, then the price will likely decline further to test $103 support level. However, if the price manages to break above $140 level, then it will likely witness a short-term rally towards $153 resistance level.
