Solana ETF dey get inflows of $568M for 20 days despite say SOL price drop
Since di first Solana spot ETF start for October 28, Solana ETFs don get 20 days straight of net inflows wey total $568 million. Bitwise BSOL ETF lead with $483.6 million (89%) of dis inflow, sharp sharp because of im 0.20% fee plus staking rewards of up to 7%. Average daily inflow na $28 million, include record $39.5 million on November 24. Even though ETF inflow dey strong, SOL price don drop over 30% dis month to around $138, wey mean say 80% of circulating supply dey loss. Futures data show say sellers pressure dey rise for $140 resistance—open interest spike mean say new short positions dey come— plus high funding rates mean sey plenty long leverage crowd SOL price. Analysts dey warn say if e break $120 support, e fit trigger like $239 million liquidation below $124.4, we fit cause panic sell. Technical indicators keep SOL dey near 50-period EMA, e fit fall more if e no quick reclaim $140. Meanwhile, Solana ecosystem dey grow steady: real-world asset holders don cross 100,000, plus MON token for Solana DEX record $87 million in 24-hour volume, pass rival platforms dem.
Bearish
Even though continued ETF inflows dey show say institutional demand for SOL dey grow, the cryptocurrency don fall over 30% dis month, and futures data dey show say sellers dey put pressure for important resistance with plenty long leverage body. Analysts dey warn say if e break di $120 support, e fit liquidate up to $239 million, wey fit make the falls dey quick more. Short term, forced liquidations and stop-loss cascades fit push price go down further, and for medium term, technical resistance at $140 and high funding rates fit restrict any comeback. Despite say the ecosystem dey grow, all these factors mean say SOL go continue to face bearish pressure.