BEARISH 📉 : $285M Drift hack cuts Solana DeFi TVL by 12%, SOL risks $70
SOL holds above $80 after Drift’s $285M exploit. Price sits near $83 today, up +1.3% in 24h, but a break of $80 risks a deeper drop.
A major exploit hit Drift Protocol for $285M, pressuring Solana DeFi and sentiment. Source is a community post tracking the incident on X.
The Solana (SOL) Foundation launched STRIDE and SIRN security programs to harden the ecosystem. Details here from Coinspeaker.
On the chart, SOL consolidates near $83 with fading highs and repeated support retests. Intraday structure remains undecided. Price and chart context via TradingView.
Key levels traders watch on TradingView:
- Bull case. Reclaim $84–$85 on rising volume, target a retest at $92–$95.
- Base case. Sideways in low $80s until a clear Bitcoin (BTC) signal emerges.
- Bear case. Loss of $80 and momentum spillover push toward the $60s, with $62 seen as last credible support.
Security concerns remain an overhang, and the Drift incident revived that debate at a weak technical moment. Coverage: Coinspeaker.
Source: TradingView.