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Solana is stagnant sideways, with the broader crypto market hitting light turbulence. Sol is trading at $145.45, a 2.5% decrease from last Wednesday, and is now drifting around the Craniwise after a month’s rally that pushed nearly 30% from its April low.
Despite slight cooling of momentum, Solana continues to print use at speed. Over the past 30 days, trading fees have reached $432.9 million per year, with Sol Burn running at a rate of $216.5 million per year.
In addition to the macro headwinds, you can probably track some of the cautious price action on the looming FTX liquidation where more than 60% of the real estate’s on-chain assets are in SOL. The first wave of creditor repayments is scheduled for May 30th. This is funded by previous asset sales, including FTX’s March Sol Deals. Sol’s market capitalization has dropped to $75.3 billion and its 24-hour volume remains at $3.49 billion, but buyers can’t stop looking into their shoulders.
The final round of unlocking the FTX Estate began on March 1st. This was just before the Sol price drawdown, but obviously other factors involved.
Meanwhile, Bitcoin made a bit of a gut punch this morning for the macro. Wednesday, BTC It was dropped Up to $92,910 after US GDP data is shown 0.3% contraction of Q1 – It’s been three years. Analysts quickly cited the sudden impact of Trump’s revived tariff policy, with imports surged and lowering GDP prints. The stocks were sold, recession chatter began, and Bitcoin was immersed. As tradition, prices rebound to $94,000 within hours, with strong spot demand and resilient ETF inflows, including over $3 billion in net new capital by April 29th.
last weekend Crossroads Events in Istanbul The Solana community was able to take stock of direction. Notes, investors checking the pulse, and many builders who compared workshop infrastructure for variant teams still filming the scale of mainstream demand.
However, so far, the trust that arises as a result of these arguments has not been converted to price. For now, convictions are expensive. The market is still frozen by what-if. What is the market price for FTX overhangs? If Bitcoin hasn’t cleared $96K, what happens if I drag everything else? What if global retaliation hits US technology exports and risky assets feel heated?
When these questions have answers, people either step up or come aside. And that’s when the market starts moving again… ready or not.