Yesterday people were saying that the SOL deflation proposal passing was a huge positive. Today, SOL dropped from 107 to 102—down 3.16% in 24h. The benefits of deflation haven’t even been digested yet, and the market has started calculating the next account.
As for the order book, the cross-sectional price is 101.96. The entire market’s OI is $6.73 billion (65.95 million SOL). The funding rate is -0.006%—turning negative—so the shorts are starting to gain the upper hand. The daily chart is very clear: on 8/19 it rallied from 76 up to the 110 high on 8/28. In 13 days it rose 43%, then it fell for three straight days back to 102. Today is the weekly and monthly close at the same time, and capital is seeking shelter.
A big V says there’s still hope: "If BTC holds steady, ETH and SOL will move up in the next leg." But on the same day, he also posted: "Robinhood traders are watching Solana’s trench"—the implication being that attention on the RH Chain has already started to divert away from SOL.
Another big V put it more directly: "No one is bullish enough on the Robinhood Chain. It has the potential to make the last cycle’s Solana and Base gains look like a test run." He listed three reasons: direct integration with the next wave of retail capital; large-scale trading and innovation DeFi through RWA integration; and memes occupying a core position. This isn’t the kind of rhetoric the bears use to shout—this is a KOL with 720,000 followers seriously saying the RH Chain could replace Solana’s narrative.
An even harsher big V morning update: "SOL’s own exchange BP is like garbage—better if it didn’t exist. It’s really pathetic." He’s talking about the degradation of Solana’s native DEX experience, while the RH Chain side is blooming.
But there are also positives propping things up. On-chain data shows USDC Treasury has just minted 250 million USDC on Solana—someone is injecting liquidity into Solana, which suggests on-chain demand is still there. The deflation proposal SGP-0002 has also indeed passed, reducing SOL supply by 18.9 million over six years. The fundamentals haven’t changed; what has changed is sentiment and capital flows.
100 is the watershed: hold and look for a rebound toward 106; if it breaks, look down to 95. Deflation is undeniably a real positive, but the RH Chain is competing for on-chain activity and attention—this is the account the market is currently balancing. Are you betting on deflation to create scarcity, or betting on the RH Chain to siphon attention?
$SOL #Solana #通缩 #RobinhoodChain
As for the order book, the cross-sectional price is 101.96. The entire market’s OI is $6.73 billion (65.95 million SOL). The funding rate is -0.006%—turning negative—so the shorts are starting to gain the upper hand. The daily chart is very clear: on 8/19 it rallied from 76 up to the 110 high on 8/28. In 13 days it rose 43%, then it fell for three straight days back to 102. Today is the weekly and monthly close at the same time, and capital is seeking shelter.
A big V says there’s still hope: "If BTC holds steady, ETH and SOL will move up in the next leg." But on the same day, he also posted: "Robinhood traders are watching Solana’s trench"—the implication being that attention on the RH Chain has already started to divert away from SOL.
Another big V put it more directly: "No one is bullish enough on the Robinhood Chain. It has the potential to make the last cycle’s Solana and Base gains look like a test run." He listed three reasons: direct integration with the next wave of retail capital; large-scale trading and innovation DeFi through RWA integration; and memes occupying a core position. This isn’t the kind of rhetoric the bears use to shout—this is a KOL with 720,000 followers seriously saying the RH Chain could replace Solana’s narrative.
An even harsher big V morning update: "SOL’s own exchange BP is like garbage—better if it didn’t exist. It’s really pathetic." He’s talking about the degradation of Solana’s native DEX experience, while the RH Chain side is blooming.
But there are also positives propping things up. On-chain data shows USDC Treasury has just minted 250 million USDC on Solana—someone is injecting liquidity into Solana, which suggests on-chain demand is still there. The deflation proposal SGP-0002 has also indeed passed, reducing SOL supply by 18.9 million over six years. The fundamentals haven’t changed; what has changed is sentiment and capital flows.
100 is the watershed: hold and look for a rebound toward 106; if it breaks, look down to 95. Deflation is undeniably a real positive, but the RH Chain is competing for on-chain activity and attention—this is the account the market is currently balancing. Are you betting on deflation to create scarcity, or betting on the RH Chain to siphon attention?
$SOL #Solana #通缩 #RobinhoodChain
