Solana Price Drops as Token Unlocks Loom – Will SOL Fall to $30?
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Solana has slipped to $124 today, marking a 3% loss as the broader cryptocurrency market declines by 4% in the past 24 hours.
SOL is now down 9% in a week and 38% in the past month, making it one of the worst-performing major cryptocurrencies during this period. The altcoin has also shed 16% of its value over the past year.
The past few weeks have been particularly rough for Solana. The token has suffered from declining meme coin interest, Trump’s recent tariff discussions, as well as the massive unlock of SOL from the FTX estate.
These factors have weighed on demand, and when combined with broader market weakness and macroeconomic headwinds, Solana may struggle to regain momentum in the short term.
Solana Price Drops as Token Unlocks Loom – Will SOL Fall to $30?
Concerns surrounding Solana’s long-term price stability have grown due to its upcoming unlock schedule, with around 18 million SOL – worth approximately $2.23 billion – set to enter circulation in 2025.
While many of these tokens are allocated to large asset managers such as Galaxy Digital and Pantera Capital, their release raises fears of increased selling pressure.
This concern is further amplified by Solana’s sharp decline since January, with the token now down 57% since peaking on January 19. In comparison, Bitcoin has dropped only 25% in the same timeframe.
Much of this downturn can be attributed to a fading appetite for meme coins, which have played a significant role in Solana’s ecosystem over the past year.
Pump.fun’s trading volume plummeted by more than 60% in February, with investor confidence shaken by the collapse of Official Trump (TRUMP) and the brief surge-and-dump of Javier Milei’s LIBRA token.
To regain its footing, Solana may need to reposition itself as a more fundamentally strong layer-one blockchain.
The upcoming Firedancer validator client could be a crucial turning point, as it promises to improve network efficiency and stability.
If market sentiment recovers by the time Firedancer launches, Solana could regain momentum and climb back toward $200 in the coming weeks.
However, if the current support level fails, SOL risks falling below $100, with a potential drop toward $30 if broader macroeconomic conditions worsen and selling pressure accelerates.
New Altcoins With Strong Fundamentals Could See Bigger Gains
With Solana facing continued selling pressure, many traders are shifting toward emerging altcoins with stronger upside potential.
Presale projects have performed exceptionally well this year, especially those that have attracted substantial investment and built strong community momentum.
One of the most promising projects in this space is Solaxy (SOLX), which has already raised $25.8 million ahead of its launch as Solana’s first-ever layer-two network.
Solaxy is set to launch in the coming weeks, offering faster transactions, lower fees, and improved network reliability—all of which address Solana’s persistent scalability issues.
SOLX will be the network’s native token, used for transaction fees and staking, meaning that demand for it is expected to grow as adoption increases.
Solaxy will also offer instant bridging with Solana, ensuring seamless transfers between the two ecosystems. Future updates will expand compatibility to Ethereum and other blockchains.
SOLX is currently priced at $0.00166, with incremental price increases scheduled throughout the presale.
Investors can participate via the official Solaxy website, with early momentum suggesting that SOLX could surge once it lists on exchanges.
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