The surprise announcement by President Donald Trump that SOL was to be included in the US Crypto Strategic Reserve has been going on for three days. If this happens (and it’s still a huge if), “if”), the inclusion will place alongside , ETH, XRP, and in a government-held reserve of digital assets.
SOL surged quickly to $178 local high on news followed by a swift decline. It was too much adrenaline on a Sunday. SOL was left with a $141 settlement at the time of writing, as short-term investors left without any clear implementation timeline.
But let’s avoid being dramatic. This is a 10 percent increase from the $128 it was priced at just before its announcement. The market had been a bit rough in the days leading up.
SOL, when zoomed out, has been also tossed about by wider market turmoil. The escalating US trade war — with tariffs on China, Mexico and Canada triggering countermeasures — has created uncertainty, pressuring equities and risk assets, including crypto. Bitcoin’s price, which reached $95,000 after the Trump election, is now down to $88,400. This confirms crypto’s continuing correlation with macroeconomic conditions.
Solana has likely been influenced by factors specific to the country. Activity on Onchain is down. The number of active addresses has dropped dramatically from 18,5 million in November, to 8,4 million as late as February. The memecoin hype of the past year has also subsided, as pump.fun saw a 63% decline in its trading volume.
SOL continues to be a popular choice for institutional investors, despite retracing. CME announced recently that it will launch Solana Futures on 17 March. It should appeal to hedge funds and institutions traders, who are eager for more regulated exposure.
Where are we now? If I were to bet, I would say that stabilization will come before a new push towards $160-$180. If the selling pressure takes us down below current levels, $125 is the real next floor. Expect more volatility in either direction. Solana doesn’t do things quietly.
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