Solana ($SOL) Drops 6.15% Amid Lower Volume
Solana’s $SOL fell 6.15% in 24h as altcoins saw profit-taking post-January rally. Spot volume dropped 14.75% to USD 4.08 B, indicating consolidation rather than panic.
Network chatter on X (formerly Twitter) mentions minor congestion and competition from Ethereum Layer‑2s. Perpetual open interest remains stable (~USD 2 B) with funding near zero, keeping liquidation risk low.
On-chain metrics show low fees (~0.0001 SOL/tx) and TVL at USD 4.5 B, while sentiment is mixed: 55% bearish, but memecoin buzz adds some optimism.
Investors should watch for volume >10% of market cap for reversal signals.