The Solana price dropped 1.5% to $67.54. The Bitcoin price fell 3%, dragging the whole market down with it. A Deutsche Bank report said Bitcoin is now acting like a mainstream asset, tied to the Fed and ETF money flows. When that report landed, the risk-off mood hit everything, Solana included.
There’s more pressure underneath. A whale has a $16.5 million long position near $68. If that gets wiped out, it could speed up the drop. On top of that, a double-top pattern on the chart broke down at $68, with a downside target around $60.80.
So Solana is getting squeezed from every side, macro news, whale risk, and technicals.
What you'll learn 👉
Solana’s DeFi Slump Is Becoming Harder to Ignore
The debate around value capture in crypto has intensified following comments from analyst 2xnmore, who criticized projects with growing protocol metrics but limited benefits for token holders.
Using ONDO as an example, he pointed to a protocol valued at $3.59 billion, generating roughly $4.9 million in monthly fees, yet offering no direct revenue distribution or buyback mechanism for token holders. His argument centered on the growing gap between protocol success and token performance.
$ONDO built a $3.59B protocol and forgot to invite the token holders.
— 2xnmore (@2xnmore) June 24, 2026
TVL at all time highs.
Token down 85% from its peak.
That is not a market problem.
That is a design problem.
$4.9M in monthly fees flowing to a DAO treasury with no buyback and no distribution to holders.… pic.twitter.com/8xqUyhKmpz
That discussion has become relevant across the broader DeFi sector. Total value locked across decentralized finance protocols has fallen from $115 billion in January to $70 billion in June, wiping out $45 billion in capital. Investor confidence has also been affected by several high-profile security incidents across the industry, reducing risk appetite.
Solana has been one of the largest casualties of that trend. The network’s TVL has dropped 40.5% to $4.93 billion. Lower TVL means less capital moving through lending markets, decentralized exchanges, and yield protocols.
For the SOL price, that matters because weaker DeFi activity can reduce network usage, transaction fees, and ecosystem growth at a time when investors are already becoming more selective.
Key Developments Supporting the SOL Price
Solana’s DeFi side is struggling, but the network itself keeps moving forward.
The big one is Alpenglow, a major upgrade that could cut finality times from 12 seconds down to about 150 milliseconds. That’s a solid jump. Anatoly Yakovenko says it could land as early as Q3 2026. If it delivers, Solana becomes way more useful for payments, trading, and anything that needs speed.
There’s other stuff in the works too. One proposal, SIMD-0286, wants to boost block compute capacity from 60 million to 100 million units, a 66% increase.
Another proposal, SIMD-0266, aims to reduce token-program compute requirements by as much as 98%. If implemented successfully, both upgrades could improve scalability and reduce congestion during periods of heavy activity.
Institutional adoption continues to provide another source of support for the SOL price. Real-world assets on Solana exceeded $2 billion earlier this year, and major integrations continue to expand the ecosystem.
SoFi rolled out a stablecoin on Solana. Cash App added USDC support. Visa keeps using the network for settlements.
Behind the scenes, developers are working on privacy tools and enterprise features too. That could open Solana up to more than just crypto people, maybe payments, banking, and real-world business use down the line.
Related Solana News: Toss Bank Partners with Solana Foundation for Stablecoin Remittances as SOL Price Reclaims $74
ChatGPT’s SOL Price Prediction
After reviewing Solana’s current fundamentals and technical setup, ChatGPT outlined three possible scenarios for the SOL price.
If things get worse
Solana could drop to $60–$62. The double-top pattern points to $60.80. Add in a weak Bitcoin, macro pressure, and TVL down 40%, and it gets ugly fast. There’s also a $68 liquidation level that could speed things up if it breaks.
If things hold steady
Expect $65–$75. That assumes the market calms down and demand from real-world use, Visa, payments, stablecoins, cancels out the DeFi bleeding. Solana chops sideways while everyone waits on the Fed and network upgrades.
If things turn around
Solana could bounce to $85–$95. That requires sentiment to flip, money to flow back into DeFi, and Alpenglow to deliver. If TVL picks up and activity returns, $80 breaks and the high end comes into play.
Solana is getting hit from two sides, the broader crypto selloff and a collapse in DeFi activity. TVL on Solana is down over 40% this year.
But it’s not all bad. Major upgrades are coming. Big companies like Visa and SoFi are using the network. More real-world stuff is building on Solana too.
So where does it go from here? Could drop to $60. Could bounce back toward $95. Depends on one thing, when the market turns and whether money starts flowing back into the ecosystem.
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