started · updated
Solana slides to $74 as support tests and new ETF debuts
The Solana (SOL) cryptocurrency fell to about $74.13 on July 28, down roughly 2.2% in the prior 24 hours and breaking the $75 technical support level. The breach triggered automated sell orders and long liquidations, pushing the price into a new support zone near $73‑$74. Analysts warn that if the $73.75 zone fails, the next major barrier could be around $60.
Despite the price weakness, on‑chain activity remains solid: decentralized‑exchange volume reached about $9.83 billion over the past week, daily active addresses stayed near 2.16 million and the Solana stablecoin market cap rose to roughly $16.65 billion. Institutional interest is growing as Morgan Stanley Investment Management launched the Morgan Stanley Solana Trust, a spot ETF on NYSE Arca with a 0.14% fee that can stake up to 100% of its holdings. Spot Solana ETFs saw net outflows of about $8.6 million, while Bitwise’s Solana Staking ETF recorded a $1.03 million inflow on July 27.
The network also shipped the Firedancer mainnet upgrade (version 1.1.2), aimed at improving validator performance. Macro headwinds, notably higher U.S. Treasury yields and a stronger dollar, continue to pressure risk assets across the crypto market.
Entities
Bitwise · Firedancer · Morgan Stanley · Morgan Stanley Investment Management · Morgan Stanley Solana Trust · NYSE Arca · Solana · Solana (cryptocurrency) · Solana ETFs · U.S. Treasury
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Solana ETFs together manage roughly $904 million in assets. www.finanznachrichten.de
- [○ 1 SOURCE] Derivatives open interest for Solana stands at $4.62 billion with 24‑hour futures volume of $7.04 billion. ambcrypto.com
- [● 2 SOURCES] Morgan Stanley Investment Management launched the Morgan Stanley Solana Trust, a spot ETF on NYSE Arca with a 0.14% fee that can stake up to 100% of its SOL holdings. dmarketforces.com · ambcrypto.com
- [○ 1 SOURCE] Solana has roughly 2.16 million daily active addresses and its stablecoin market cap rose 9.85% to about $16.65 billion. ambcrypto.com
- [DISPUTED] Solana price declined 2.29% in 24 hours to about $74.11. dmarketforces.com · ambcrypto.com · www.finanznachrichten.de
- [● 2 SOURCES] Solana’s decentralized exchange volume processed about $9.83 billion over the past seven days, ranking second globally. dmarketforces.com · ambcrypto.com
- [DISPUTED] Solana broke below the $75 support level, triggering sell orders and liquidations. dmarketforces.com · www.tokenpost.com · ambcrypto.com
- [● 3 SOURCES] The next support zone for Solana is between $73 and $74, with a break possibly testing $70‑$72. dmarketforces.com · ambcrypto.com · www.finanznachrichten.de
- [○ 1 SOURCE] Solana shipped the Firedancer mainnet upgrade (version 1.1.2) during July 2024. www.tokenpost.com
- [DISPUTED] Spot Solana ETFs recorded net outflows of about $8.6 million, while Bitwise’s Solana Staking ETF saw a $1.03 million net inflow on July 27. www.tokenpost.com
- [○ 1 SOURCE] Analysts highlighted $73.75 as a decisive support level for Solana, warning that a breakdown could lead to further decline toward $60. en.coin-turk.com
- [DISPUTED] Solana fell to about $74.13 on July 28, down roughly 2.2% in the prior 24 hours. www.tokenpost.com · dmarketforces.com · ambcrypto.com