Solana’s price traded below $100 on October 29, 2026, after U.S. spot SOL exchange-traded funds recorded approximately $24.82 million in net outflows over the prior two trading sessions. SoSoValue data showed $19.16 million withdrawn on October 27—the largest single-day outflow since December 3, 2025—followed by another $5.66 million on October 28.
At the time of reporting, SOL traded near $99.71, down about 2.1% over 24 hours, with a seven-day decline of roughly 4.74% and monthly losses around 15.41%. Daily trading volume stood near $2.93 billion. October’s cumulative ETF outflows exceeded $105 million, though overall cumulative net inflows since launch remained positive at approximately $1.51 billion.
Lookonchain separately reported a whale selling about 1.02 million SOL, valued at roughly $104.3 million, over five days. Analysts noted the $96–$100 zone as key support, with $104–$105 as a potential breakout level. Solana’s Alpenglow consensus upgrade had activated earlier on October 21.
The Drivers of the Current Situation
The main pressure points are the recent multi-day ETF outflows totaling about $24.8 million and Solana’s breach of the $100 level amid broader October weakness. Confirmed elements include the specific daily outflow figures, the comparison to the prior largest single-day redemption, the positive long-term cumulative inflows, the reported whale activity, and the technical focus on the $100 support area. These factors occur against a backdrop of ongoing market consolidation and recent protocol upgrades.
Further flow data or price action around support will clarify short-term direction.
Impact and Broader Context
The combination of ETF redemptions and the break below $100 has heightened attention on institutional demand for Solana and the resilience of key technical levels. It raises questions about the durability of prior inflow trends, the influence of large on-chain sellers, the interaction between ETF activity and spot price, and the broader October performance of SOL relative to other major assets. Coverage notes the distinction between short-term outflows and still-positive cumulative inflows, as well as the role of technical support in near-term sentiment.
Subsequent daily flow reports, whale movements, or successful defense of the $96–$100 zone will determine the lasting effect.
This analysis draws from SoSoValue ETF data, price reports, Lookonchain observations, and contemporaneous market commentary. Exact attribution of price moves to ETF flows versus other factors, final daily closes, and longer-term trends remain subject to further market data.