Solana Dey Face Price Drop and Volatility Amid SEC Scrutiny, ETF Wahala, and Token Unlock Pressure
Solana (SOL) dey experience big wahala for market as e price drop 18% for May 2025. Na because di SEC for USA dey look SOL and Ethereum staking ETFs like say dem wan check. Dem get wahala if the ETF dem fit follow the 1940 Investment Company Act. Dis kain worry don make people wey dey buy and sell to dey fear. The open interest for SOL futures fall from $3.20 billion to $2.87 billion, and the perpetual futures funding rate don go negative, meaning traders no get confidence again. Plus, over 6 million SOL tokens wey value about $864 million dey ready to unlock soon, this one fit put pressure for supply side. Usually, big unlocks like dis go fit make price go down small-small. Important levels to watch be the 50-day exponential moving average and support for $150. If price fall below this, we fit see am drop to $140 or even $120. Market dey between hope say ETF go clear with 80% chance from Polymarket and fear from regulator and token unlock risk. Right now, traders dey reduce risk and dey wait for regulation to clear and new interest before dem go enter again. Overall, price fit still waka up and down because of beta regulation and tokenomics wahala.
Bearish
Di kain na tori bot Solana na bearish. Di kain fo plenti fall for di prais by 18% insay May, wey come from SEC dem scrutiny over Solana plus Ethereum staking ETFs, don spoil traders confidence, you fit see am through di drop for open interest and negative perpetual futures funding rates. Dis kine regulatory wahala sef e get added wahala wit di upcoming unlocking of over 6 million SOL tokens, wey worth $864 million, wey fit bring supply side yawa and make prices fall. Technical indicator show say SOL dey struggle for key resistance and e dey risk to break main support levels, fit make di price fall more. Even if di chance fo ETF approval dey give small hope for di long run, di traders dem immediate reaction dey cautious, many of dem dey reduce risk and exposure till di matter clear. Unless betta regulatory or institutional news come, di matter fit still dey volatile and di prices fit still fall short term.