Why did Solana (SOL) just record eight consecutive red monthly candles?

Solana closed eight straight monthly candles in the red from October 2025 through May 2026, marking the longest losing streak in the token's history. During that period, SOL fell from around $220-$230 to roughly $81 as broader crypto markets weakened and speculative trading activity slowed.

How much value has Solana (SOL) lost since its 2025 peak?

SOL's market capitalisation declined from more than $120 billion at its October 2025 peak to about $47 billion by June 2026. That represents roughly $78 billion in lost market value despite the network continuing to post strong usage metrics.

Why is Solana's price falling even though network activity remains strong?

Solana's network metrics remain robust, but price and network usage do not always move together. Investors have been focused on macroeconomic uncertainty, restrictive Federal Reserve policy and weaker risk appetite, which have weighed on many crypto assets regardless of underlying activity.

What are Solana's key onchain metrics in June 2026?

As of June 1, 2026, Solana was processing about 75.7 million daily transactions, supporting 1.64 million active addresses and holding approximately $5.3 billion in total value locked (TVL). The network also hosted roughly $14.7 billion in stablecoins.

Why has the decline in meme coin trading affected Solana?

Meme coin activity was a major source of network traffic and trading volume for Solana during 2024 and early 2025. As retail speculation cooled, transaction-driven demand and investor enthusiasm around the ecosystem also weakened, contributing to price pressure.

What price levels are traders watching for Solana (SOL)?

The most important support zone is currently around $80. If SOL falls below that level, some traders believe the price could decline toward $70. On the upside, resistance remains concentrated between $85 and $90, where several previous rallies have failed.

Is Solana still growing despite the price weakness?

Yes. The network continues to process high transaction volumes, maintain a large stablecoin ecosystem and attract developer activity. Major upgrades including Firedancer and Alpenglow are also being developed to improve scalability and transaction finality.

What is the bullish case for Solana (SOL) at current prices?

Bulls argue that strong network usage, ongoing development and growing institutional interest could eventually support a recovery. Some analysts see the current $80-$82 range as a potential accumulation zone if broader market conditions improve.

Image for illustrative purposes only. Not a real photo.

Solana logs record 8-month losing streak

Written by Liezl GambePublished Jun 1, 2026, 2:41 PM

Solana has recorded eight consecutive red monthly candles for the first time in its history, with SOL trading near $81 after a prolonged decline that began in October 2025.

The token has fallen from a peak near $220-$230 and a market capitalisation above $120 billion in October 2025 to roughly $47 billion today, representing an erosion of about $78 billion in value.

Crypto commentator Ash Crypto highlighted the milestone on June 1, stating:

“This is unbelievable. SOL just closed 8 consecutive red monthly candles for the first time in history.”

SOL opened 2026 near $138 and dropped as low as $68 in April before recovering modestly, leaving the asset down approximately 38% to 42% from its opening level for the year.

The weakness has been attributed to restrictive Federal Reserve policy, declining speculative activity in the meme coin sector and repeated technical rejections in the $85 to $90 range that have limited recovery attempts.

Despite the price decline, Solana’s network fundamentals remain relatively strong, with the blockchain processing 75.71 million transactions over the past 24 hours, supporting 1.64 million daily active addresses and maintaining $5.31 billion in total value locked across decentralised finance applications.

Supporters argue the $80 to $82 area could provide a foundation for recovery, while ongoing development work on Firedancer and Alpenglow, combined with growing institutional participation and approximately $1.13 billion in cumulative inflows into US-listed Solana exchange-traded funds, could support a rebound if broader market conditions improve.

At the time of reporting, Solana price was $79.44.