Solana slides 10% on the week, underperforms Bitcoin and Ethereum

Solana has seen major declines that have led to an underperformance in comparison to other coins like Bitcoin, Ethereum, and ￰0￱ to on-chain data, Sol has declined by almost 10% this ￰1￱ per Coinglass , over the past 24 hours, market-wide liquidations exceeded $290 million, with highly leveraged and less liquid assets seeing sharper ￰2￱ derivatives contracts have accounted for $31.6 million worth of forced selling in the past day, compared to $68.5 million for Ethereum and $52.2 million for Bitcoin ￰3￱ ten cryptocurrencies.) for SOL went from being neutral to ￰4￱ then, the value has been slowly going ￰5￱ figure shows the difference between the total number of buy and sell orders over three ￰6￱ can be seen in the whale’s ￰7￱ worth $17.45M was moved to exchanges like Kraken and Binance on September 8.

Also, on Sept 21, there were whale outflows of $836 million in SOL from ￰8￱ trend has been linked to corrections in the past, like the 12% drop in July 2025. Meanwhile, a $185K scam exploit on Solana wallets in early September, though minor in scale, has raised short-term concerns among retail investors. SOL’s bull catalysts Institutional buyers have made an effort to offset some of SOL’s selling ￰9￱ Tuesday, Kazakhstan’s central bank launched a pilot project with a new stablecoin called Evo, pegged to the local fiat currency in collaboration with Solana and ￰10￱ reported by Cryptopolitan earlier on Monday, Helius Medical Technologies, ￰11￱ its first acquisition of SOL tokens as part of its digital asset treasury ￰12￱ company now holds more than 760,190 SOL at an average cost basis of $231.

This brings its total SOL stake to approximately $167 ￰13￱ also revealed an excess of $335 million in cash reserves, which the company plans to allocate toward advancing its digital asset treasury ￰14￱ partnerships and corporate settings are increasingly Solana-based treasuries, highlighting the rising adoption and wider acceptance. Furthermore, growing institutional interest further enhances its credibility and long-term adoption ￰15￱ most significant near-term catalyst is the US SEC decision on Solana ￰16￱ from Bitwise and 21Shares are due by October 16, 2025, while Franklin Templeton’s application has been pushed to ￰17￱ would replicate the inflows seen with Bitcoin and Ethereum ETFs, potentially injecting billions into the ￰18￱ up to $30,050 in trading rewards when you join Bybit today