NewsBTC
Nov 13, 2025
11 0

Solana Faces Pressure as User Activity Drops and Alameda Unlocks Tokens

Solana Faces Market Challenges Amid Declining Activity and Token Unlocks

  • Solana (SOL) is under pressure due to declining memecoin activity, lower user engagement, and token unlocks by Alameda Research.
  • The asset must defend the $140–$150 demand zone to avoid a deeper correction.

Memecoin Activity Decline

  • Daily active addresses have dropped to 3.3 million from over 9 million at the year's start, a 12-month low.
  • This decline has led to reduced fee revenue and liquidity, increasing market sensitivity.
  • New high-utility use cases are needed to attract consistent user engagement.
  • Despite challenges, Solana’s DeFi TVL remains strong at nearly $10 billion, supported by projects like Jupiter and Jito.

Solana SOL SOLUSD

Alameda Unlocks vs. ETF Inflows

  • Alameda unstaked 193,000 SOL ($30 million) on November 11, adding selling pressure.
  • Conversely, Solana has seen robust ETF inflows, totaling $336 million for the week with contributions from Bitwise and Grayscale.
  • Institutions like Rothschild Investment have shown interest, and SoFi Bank allows direct SOL purchases, boosting legitimacy.

Technical Analysis

  • SOL trades around $152–$156, having breached support at $156 amid rising volume.
  • Indicators show bearish trends: OBV downtrend, lower highs/lows since early November.
  • Key support lies at $140; failure could lead to further declines toward $120.
  • A successful defense might trigger a rebound to $165–$180, contingent on stable ETF flows and Bitcoin's stability above $98k–$100k.