Quick overview

Live SOL/USD Chart

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Solana’s native token (SOL) has experienced a sharp decline, falling to approximately $168 in the early hours of the day. This reflects a drop of about 9–10 percent from the highs of $220–$230 reached the previous day, as part of a broader sell-off in the cryptocurrency market. The overall value of the cryptocurrency market has decreased by 1-2 percent, now sitting at $413 trillion.

Many long positions in SOL were liquidated in the last day, creating a vicious cycle of forced selling.  Bitcoin is experiencing a sideways decline below $112K compounded by macroeconomic concerns, which could delay potential Solana ETF approvals. This situation has also adversely affected alternative cryptocurrencies, with Ethereum seeing a 2 percent decrease.

The cryptocurrency market is currently at its lowest level in almost six months, following US President Donald Trump’s announcement of a 100 percent tariff on China. In its Saturday update, the Crypto Fear and Greed Index, which assesses general market sentiment, dropped 37 points from a “Greed” reading of 64 on Friday to a “Fear” level of 27.

Bitcoin’s price briefly fell from $112,185 to $102,000 on the Binance perpetual futures pair. According to CoinGlass, long and short positions in the cryptocurrency market were liquidated to the tune of approximately $19.27 billion in the past day.

The last time the Crypto Fear and Greed Index reached such a low level was on April 16, shortly after Bitcoin dropped to $77,000 due to escalating trade tensions. Before that, on April 9, Trump announced a 90-day halt to higher reciprocal tariffs, reverting the majority of nations to the standard 10 percent rate.