Solana
declined 7.84% over the previous 24 hours, buying and selling at $145.08 as of 20:03 UTC on July 1, 2025, in line with CoinDesk Analysis’s technical evaluation mannequin; throughout the identical interval, the broader crypto market, as listed by the CoinDesk 20, went down solely 0.24%.
SOL’s sharp drop comes simply in the future earlier than a serious milestone for the ecosystem: the launch of the REX-Osprey SOL + Staking ETF.
Set to debut on July 2, 2025, the REX-Osprey SOL + Staking ETF (ticker: SSK) is the primary U.S.-listed exchange-traded fund to supply direct publicity to Solana’s native token whereas additionally providing entry to staking rewards. Not like conventional crypto ETFs that solely monitor worth, this fund allows holders to passively profit from Solana’s proof-of-stake reward system.
Roughly 80% of the ETF’s property shall be allotted to SOL, with roughly 50% of these tokens actively staked. The fund is structured below the Funding Firm Act of 1940, a framework usually seen as extra favorable from a regulatory standpoint than the 1933 Act. The 1940 Act construction might enhance investor protections and expedite approvals, which may affect broader institutional participation.
Analysts say this launch represents a serious step for Solana’s credibility amongst U.S. monetary establishments. By integrating yield era instantly into the ETF, it gives a extra complete publicity to the asset than spot-tracking funds. Some market contributors imagine it may function a catalyst for long-term adoption, significantly as different corporations together with Grayscale, VanEck, and Bitwise pursue comparable SOL ETF purposes.
Nonetheless, regardless of the ETF’s pending launch, SOL noticed broad-based promoting stress on Monday, underscoring the market’s cautious stance forward of the occasion.
Technical Evaluation Highlights
- SOL declined $12.34 over the previous 24 hours, dropping from $157.42 to $145.08 — a 7.84% loss with a worth vary of $12.34.
- Robust resistance was encountered at $157.42 in the course of the first hour of the evaluation window, adopted by constant promoting stress all through the session.
- The most important quantity spike occurred in the course of the 06:00 UTC hour, exceeding 1.57 million models, with worth rejection close to $151.50.
- upport emerged at $146.55 in the course of the 14:00 UTC hour, additionally coinciding with elevated quantity, indicating accumulation curiosity round that degree.
- Within the ultimate hour of the evaluation window from 19:01 to twenty:00 UTC, SOL declined farther from $146.31 to $145.08, hitting its lowest worth of the day.
- Value motion shaped a well-defined descending channel, characterised by decrease highs and decrease lows throughout the whole buying and selling interval.
Disclaimer: Components of this text have been generated with the help from AI instruments and reviewed by our editorial workforce to make sure accuracy and adherence to our requirements. For extra data, see CoinDesk’s full AI Coverage.
