Solana price forms alarming pattern, key metrics plunge

Bitcoin exchange-traded funds (ETFs) have experienced a third consecutive day of outflows, while Ether ETFs have turned positive, indicating a shift in investor sentiment. This development comes amidst a broader market context where Bitcoin and Ether have faced significant losses recently, collectively shedding $1.14 billion in value due to liquidity concerns.

Solana (SOL) is experiencing significant pressure as it struggles to maintain its price above critical support levels, currently trading in the low-$120 range following a sharp decline of 39% in the fourth quarter of 2025. Despite steady inflows into investment products, the cryptocurrency's network activity has decreased, leading to a divided market sentiment regarding its future.

Bitcoin and major altcoins, including ETH and SOL, experienced notable price movements following Donald Trump's prediction of the largest tax refund season in U.S. history, linking cryptocurrency trends to political developments. Traders are weighing the potential for increased consumer spending against concerns regarding U.S. debt and fiscal policy.

Upexi, a company managing a portfolio of consumer brands, has filed for a capital raise of up to $1 billion, leveraging its position as the fourth-largest Solana treasury among public companies with approximately 2 million SOL tokens.

Solana-based decentralized exchanges (DEXes) have reportedly surpassed major platforms like Binance and Bybit in trading volume during late 2025, indicating a significant shift in crypto price discovery directly onto the blockchain. DEXes such as Jupiter, Orca, and Raydium have seen increased on-chain activity and trading volumes, suggesting a growing preference for decentralized trading solutions.

Upexi, a company managing a portfolio of consumer brands and the fourth-largest Solana treasury, has announced plans to raise up to $1 billion to support its operations and investments. This capital raise is expected to significantly enhance Upexi's strategic initiatives within the cryptocurrency sector.