Share this article
Solana’s SOL Slips Below Key Price Level for the First Time in 3 Years
The token's realized price, the average cost basis of all coins last moved, has dropped below $134 for the first time since May 2022.
Updated Mar 11, 2025, 12:56 p.m. Published Mar 11, 2025, 12:13 p.m.
What to know:
- Solana's SOL slid 8% to $124, falling below its realized price of $134 for the first time since May 2022.
- The drop coincides with a debate among Solana's validators over a proposal that could reduce the network's annual inflation rate to about 1.5% from 4.7%.
- The bearish trend suggests the average SOL holder is underwater, which could trigger panic selling, but a rebound to $134 is possible if the $120 support holds and $128 breaks with volume.
Solana’s SOL entered murky waters as Monday's broad crypto-market drop sent the token of the high-speed, low cost blockchain diving as much as 8% to $124.
That's less than the realized price of $134 for the first time since May 2022, according to Glassnode data. The realized price is the average cost basis of all coins last moved and current values mean the average holder is underwater, a bearish signal that can trigger panic selling or capitulation.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The drop comes as Solana’s validators debate a proposal known as SIMD-0228 that could slash the network’s 4.7% annual inflation rate by 80% to roughly 1.5% over time.
#Solana just plunged below its Realized Price for the first time in nearly 3 years. Currently, $SOL price is $124 - about 8% below the realized price of $134: https://t.co/df8C00CqlB pic.twitter.com/zM6lKtVfGb
— glassnode (@glassnode) March 11, 2025
Unlike the market price, which fluctuates with exchange trades, realized price is a cost-basis anchor.
The price action forms a descending channel, with resistance between $134, formerly a support level, and $130, and support at $120 and $115. The trend remains bearish, but if $120 holds and $128 breaks with volume, a rebound to $134 is possible, driven by dip buyers.
More For You
Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
More For You
This article is created to test tags being added to image overlays
Dek: This article is created to test tags being added to image overlays
What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
Top Stories
