Despite strong institutional inflows into Solana ETFs, ongoing token unlocks from Alameda Research triggered a breakdown below $156 support, intensifying selling toward the $152.80 demand zone.
Solana (SOL) dropped 4.9% to $153.49 despite $336 million in weekly spot ETF inflows, marking its tenth consecutive day of institutional gains. The selloff follows Alameda Research’s release of 193,000 SOL tokens worth around $30 million as part of a bankruptcy-related monthly vesting program. Technical charts show SOL breaking key $156 support and entering a descending channel targeting $152.80, with selling volume surging 17% above the weekly average. Major institutions like Rothschild Investment and PNC Financial disclosed new Solana ETF holdings, while Grayscale introduced options trading for its GSOL product. ETF leader Bitwise’s BSOL recorded $118 million in inflows and maintains staking rewards over 7% annually.