Solana News: Uncertainty Looms as SOL Faces Mounting Selling Pressure

Solana Transfer Volume Crashes To $14.5M – What’s Next for SOL?

Solana is facing mounting selling pressure, trading at its lowest level since September 2024 following yesterday’s market-wide correction. Extreme fear continues to grip the market as SOL fails to find strong support, with bears maintaining control since the cryptocurrency hit its all-time high back in January. Since then, Solana has retraced over 55%, leaving investors uncertain about its short-term prospects. The broader crypto market remains under pressure, with altcoins struggling to regain bullish momentum. Analysts warn that further declines could be on the horizon if SOL fails to hold key levels. Crypto expert Ali Martinez shared on-chain metrics, revealing that Solana’s transfer volume has plummeted dramatically from $1.99 billion.

Solana’s New Proposal Aims to Cut Inflation by 80%

Solana has put forward a new proposal, SIMD-0228, which aims to peg the Solana issuance rate to staking participation. This move is expected to significantly reduce inflation by 80%, according to Ryan Watkins, crypto VC partner at Syncracy Capital. A section of Solana insiders has expressed support for the proposal. Vishal Kankani, a partner at MultiCoin Capital, noted that Solana was `overpaying for network security` with its fixed issuance rate relative to Ethereum. Currently, Solana releases about 4.5% annually, but with the new proposal, this rate could be adjusted based on staking participation.

Solana Price Forecast: DTCC Lists First SOL Futures ETF, Will It Avert $130 Breakdown?

Solana price scored a mild 2% gain to reclaim $137 in the early hours of Thursday Feb 26, amid a run of 24% losses since the start of the week. Derivatives trading platform DTCC has filed to list Solana Futures ETF, subject to US SEC approval. With SOL price still pressing against the lower Bollinger band indicators, bears could push for more downswings. Solana price tumbled from $172 to $134 this week as FTX estate’s impending token unlock looms ahead despite early gains from a new SOL ETF listing. Solana has been among the hardest-hit top 10 cryptocurrencies this week, with sustained selling pressure driving prices from Sunday’s close of $172 to a local bottom of $134 on Wednesday.

Volatility Shares Launches Solana Futures ETFs on DTCC

Volatility Shares has launched Solana Futures ETFs, including the 2x Solana ETF (SOLT) and the Solana ETF (SOLZ), on the DTCC. This development signifies that these ETFs are now eligible for clearing and settlement through DTCC’s central infrastructure, ensuring a streamlined and secure trading process. Initially filed with the SEC in December 2024, these ETFs aim to provide exposure to Solana futures contracts. At the time of filing, Solana futures contracts were not available on any CFTC-regulated exchanges, raising questions about feasibility.