Solana News: Declining Prices and Rising Selling Pressure Push SOL into Spotlight

Why These Altcoins Are Trending Today — February 24

Amid the broader sell-off, Solana (SOL), Berachain (BERA), and Shadow (SHADOW) have stood out as the most searched assets over the past day. SOL is a trending altcoin, extending its price decline for another consecutive day, trading at a year-to-date low of $158.88, down almost 10% in the past 24 hours. SOL’s decline has pushed its price below a long-term ascending parallel channel for the first time since June 2023, confirming rising selling pressure, potentially leading to further declines.

Raydium’s RAY Token Drops 29% Amid Rumors of Pump.fun’s Competing AMM

Raydium’s native RAY token has taken a hit, nosediving by more than 29% after reports emerged that Pump.fun is developing its own automated market maker (AMM). If true, the move could threaten Raydium’s dominance in the Solana decentralized finance (DeFi) ecosystem. Reports have been circulating that Pump.fun, known for its meme coin launches, is actively testing its AMM liquidity pools. According to @trenchdiver101, the testing is happening on amm.pump.fun, with indications that the platform plans to migrate pump tokens to these pools instead of Raydium. This shift could allow Pump.fun to extract more fees on Solana or implement new incentives for token holders. Onchain data shows the first token, $CRACK, has already been added to the AMM, marking the first step of the transition.

Solana: How High Will SOL Surge In March 2025?

The entire cryptocurrency market faced losses in February 2025, with Solana (SOL) also encountering challenges. SOL price dropped by 36% during the month, and over the past week, it fell by nearly 14%, trading from a high of $185 to a low of $155.70. At the time of writing, SOL was priced at $159.58, following a 5.56% drop over the past 24 hours. The community hopes for a rise in SOL prices in March.

Circle Mints 1 Billion $USDC on Solana in 7 Days

Circle has minted another 250 million $USDC on Solana, bringing the total minted in the last seven days to 1 billion $USDC. Since the beginning of 2025, Circle has minted a total of 8 billion $USDC on Solana, with 6 billion issued in January and 2 billion in February. This steady increase shows the growing demand for $USDC on the Solana blockchain.