- Solana’s DEX volumes fell 50%, significantly affecting price momentum.
- Janover’s $42M raise boosts institutional confidence in Solana’s future growth.
Solana (SOL) recently dropped below $100, its lowest level over a year, driven by macroeconomic uncertainty and a decline in decentralized exchange (DEX) volumes. Despite these short-term challenges, institutional interest, including Janover’s strategic moves with SOL, may provide long-term recovery support. At press time, Solana’s price stands at $114.63, showing a 7.59% increase in the past 24 hours.
Declining DEX Volumes and Market Uncertainty
In March 2025, Solana’s DEX volumes dropped by 50%, from $193 billion in February to just $97 billion, according to Blockworks. A significant portion of this decline stemmed from reduced memecoin trading activity, which fell from $60 billion in February to just $26 billion in March.
Source: Blockworks
Since Solana is often used for transactions within this sector, the drop in memecoin activity significantly impacted demand for SOL. As a result, Solana’s price plummeted by 53%, dropping from $240 to around $100.
This reduction in trading volumes and ongoing macroeconomic uncertainties have created a cautious sentiment among traders. Analysts suggest that Solana’s previous support level at $120 is weakening, and if it fails, the price could decline further.
Institutional Support: Janover’s Strategic Moves
Despite the recent price downturn, Solana continues to attract institutional interest, which could help stabilize the token’s value. A significant development comes from Janover, a real estate platform recently acquired by a team of ex-Kraken executives. The firm has announced plans to stockpile Solana (SOL) as a core strategic asset, further solidifying its commitment to the cryptocurrency space.
Janover raised $42 million through convertible bonds to fund its Solana acquisition, which has led to an over 800% surge in the company’s stock. This marks Janover as one of the few publicly traded companies that has embraced cryptocurrency in this manner.
Technical Outlook for Solana
Technically, Solana has been in a downward trend over the past year. The SOL/USDT chart indicates a consistent decline from a high of $250 in early 2024 to the current level of around $100. The token trades are below its moving averages (MA) and lower the Bollinger Band, signaling continued bearish pressure.
SOL/USDT 1-Day Chart Source: TradingView
Furthermore, the MACD indicator remains in negative territory, reinforcing the downward momentum. The DMI (Directional Movement Index) shows weak bullish signals, with the ADX value remaining low, suggesting that no strong trend is forming in either direction.Resistance remains at the $120 level, which has been an essential threshold in previous rallies. However, unless significant bullish signals emerge, Solana could continue to struggle around this level.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
