Solana Price Falls Below $100 Amid ETF Outflows

Solana fell below $100 after U.S. spot ETFs on SOL recorded net outflows of $24.82 million over two trading days. This increased pressure on the asset, which is already experiencing a difficult October.

On October 29, SOL traded at $99.71: down 2.1 percent for the day, down 4.74 percent for the week, and down 15.41 percent for the month. During the session, the price moved in the range of $99.23–$103.65, with a daily volume of about $2.93 billion.

According to SoSoValue, investors withdrew $19.16 million on October 27 and another $5.66 million on October 28. The first day marked the largest single-day outflow since December 3, 2025, when funds lost $32.19 million. For October, outflows exceeded $105 million, although accumulated net inflows remain positive, around $1.51 billion. As of October 28, the net assets of the funds were approximately $1.56 billion.

On October 29, Lookonchain reported that a wallet sold 1.02 million SOL for approximately $104.3 million over five days. The account linked the activity to an entity tracked by Arkham, but the identity of the owner and execution details require independent verification. This is a separate source of pressure from ETF outflows.

Solana's market capitalization is about $58.83 billion, ranking seventh among cryptocurrencies. Approximately 589.98 million SOL are in circulation, with a total supply of 636.64 million tokens.

According to TradingView's daily indicators, SOL is below the middle of the Bollinger Bands at $104.46, with the lower band around $98.73. The Bollinger Band Power indicator is minus 4.70, and the seven-day RSI is 34.81: both indicate weak momentum, although they do not guarantee further losses. CryptoBusy analyst considers the $96–$100 zone a key support on the four-hour chart. To test the $108–$112 resistance, buyers need a confirmed breakout above $104–$105. Another rejection at the descending trend line will refocus on $100, with the next support at $96. Closing below $98.73 will weaken the support structure, leaving $95 and $90 as potential levels. A drop to $80 remains a bearish scenario, not a confirmed target.

On October 21, the Alpenglow consensus update was activated, replacing TowerBFT: developers report transaction finalization in approximately 150 milliseconds. This is a separate step from the SIMD-550 and SIMD-553 proposals on issuance and fee burning. A separate report showed that the number of tokenized stockholders on Solana reached approximately 1.5 million—five times the August level, although this is a different measure than demand for SOL.