{"id":60904,"date":"2025-10-10T12:23:40","date_gmt":"2025-10-10T12:23:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/solana-holds-near-220-amid-50-drop-in-daily-transactions-etf-hopes-fuel-bullish-sentiment\/"},"modified":"2025-10-10T12:23:40","modified_gmt":"2025-10-10T12:23:40","slug":"solana-holds-near-220-amid-50-drop-in-daily-transactions-etf-hopes-fuel-bullish-sentiment","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/solana-holds-near-220-amid-50-drop-in-daily-transactions-etf-hopes-fuel-bullish-sentiment\/","title":{"rendered":"Solana holds near $220 amid 50% drop in daily transactions, ETF hopes fuel bullish sentiment"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/08\/Aug_29_-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/08\/Aug_29_-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/08\/Aug_29_-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/08\/Aug_29_-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Solana price maintains near the $220 level amid market volatility, buoyed by ETF hopes.<\/li>\n<li>Daily network transactions drop 50% from July\u2019s 125 million peak.<\/li>\n<li>The total value locked hovers above $32 billion despite reduced on-chain activity.<\/li>\n<\/ul>\n<p>Solana\u2019s price hovers around $220 even as on-chain data reveals a significant contraction in network activity.<\/p>\n<p>While a 50% dip in transactions is a factor to pay attention to, anticipation surrounding potential spot exchange-traded funds approvals and growing corporate interest provide bullish fuel for SOL.<\/p>\n<h2>Solana sees 50% dip in daily transactions<\/h2>\n<p>According to a recent report from CryptoQuant, Solana\u2019s daily transaction count has declined sharply in recent months. Data shows the metric has shrunk by nearly 50% from its July peak.<\/p>\n<p>The on-chain analytics firm shared details of the dip in the metric via X, showing that these transactions have dipped from highs of $125 million on July 24 to around 64 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Solana Chart Analysis: A Nearly 50% Drop in Transactions Amidst Price Rally<\/p>\n<p>\u201cThe daily transaction volume has plummeted from its peak of approximately 125 million on July 24, 2025, to a current level of around 64 million.\u201d \u2013 By <a href=\"https:\/\/twitter.com\/CryptoOnchain?ref_src=twsrc%5Etfw\">@CryptoOnchain<\/a> <a href=\"https:\/\/t.co\/8MgIAb8p9i\">pic.twitter.com\/8MgIAb8p9i<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/1976202645674311803?ref_src=twsrc%5Etfw\">October 9, 2025<\/a><\/p>\n<\/blockquote>\n<p>The decline, detailed in CryptoQuant\u2019s October 9 analysis, signals potential capital outflows and waning retail engagement. SOL\u2019s price has climbed over 20% in the same period.<\/p>\n<p>Given this outlook, experts say the price growth does not align with market activity.<\/p>\n<blockquote>\n<p>\u201cThe steep drop in transaction count strengthens the hypothesis that the recent price surge may be driven more by market sentiment and speculative activities rather than by a sustainable and organic increase in demand for the Solana network,\u201d CryptoQuant analyst CryptoOnchain <a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/68e67c2749ecef589775a1db-Solana-Chart-Analysis-A-Nearly-50-Drop-in-Transactions-Amidst-Price-Rally-A-Decl\" target=\"_blank\" rel=\"noopener\">wrote<\/a>.<\/p>\n<\/blockquote>\n<h2>Solana price outlook as bulls hold near $220<\/h2>\n<p>Despite this dip, SOL remains anchored above $200 and was holding near $220 at the time of writing.<\/p>\n<p>According to market observers, whale accumulation is up and potential spot Solana ETF approval has bulls largely in control.<\/p>\n<p>Technical indicators support this <a href=\"https:\/\/coinjournal.net\/news\/solana-price-prediction-sol-eyes-240-amid-market-rally\/\">outlook<\/a>. Solana\u2019s daily chart has the 50-day moving average ascending and providing dynamic support above $217.<\/p>\n<p>Meanwhile, the relative strength index (RSI) sits at 46 to indicate neutral momentum \u2013 although buyers may have to reposition to avoid fresh declines.<\/p>\n<p>If this happens, there\u2019s plenty of room to target key levels before hitting overbought conditions.<\/p>\n<figure id=\"attachment_340734\" aria-describedby=\"caption-attachment-340734\" class=\"wp-caption alignnone\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"size-full wp-image-340734\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/10\/solana-price-chart.png\" alt=\"\" width=\"1057\" height=\"571\"\/><figcaption id=\"caption-attachment-340734\" class=\"wp-caption-text\"><a href=\"https:\/\/www.tradingview.com\/symbols\/SOLUSD\/\" target=\"_blank\" rel=\"noopener\">SOL price chart<\/a> by TradingView<\/figcaption><\/figure>\n<p>A decisive close above $230 could invalidate bearish patterns, while $236\u2013$255 offer a critical resistance zone.<\/p>\n<h2>What underpins Solana\u2019s market strength?<\/h2>\n<p>Market watchers point to Solana\u2019s maturing infrastructure and growing institutional interest.<\/p>\n<p>As noted, the likelihood of Solana spot ETFs launching in the coming weeks remains despite the US government shutdown.<\/p>\n<p>SOL\u2019s price is also expected to rise significantly if the SEC gives a nod to multiple applications following its recent directive to issuers.<\/p>\n<p>Bloomberg ETF analyst Eric Balchunas pointed this out via X:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitwise not playing around, plans to charge just 0.20% for their spot Solana ETF. Thought we&#8217;d see higher first, need war to get this low. They prob figured it&#8217;s gonna end up there anyway so just do it now (veteran Terrordome move right there). Low fees have near perfect record\u2026 <a href=\"https:\/\/t.co\/wzoy2deqie\">https:\/\/t.co\/wzoy2deqie<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1976037299373646270?ref_src=twsrc%5Etfw\">October 8, 2025<\/a><\/p>\n<\/blockquote>\n<p>Meanwhile, inflows into Solana crypto products have jumped in the past two weeks \u2013 a fresh $706 million inflow record last week is an example.<\/p>\n<p>Notably, Solana\u2019s price is increasingly decoupled from short-term noise as DeFi dominance grows.<\/p>\n<p>The total value locked is down 2% in the past 24 hours, but holds above $32 billion as open interest also ticks up to $14.7 billion.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/solana-holds-near-220-amid-50-drop-in-daily-transactions-etf-hopes-fuel-bullish-sentiment\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Solana price maintains near the $220 level amid market volatility, buoyed by ETF hopes. Daily network transactions drop 50% from July\u2019s 125 million peak. The total value locked hovers above $32 billion despite reduced on-chain activity. Solana\u2019s price hovers around $220 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":60905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/60904"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=60904"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/60904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/60905"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=60904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=60904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=60904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}