$SOL is clinging to $100 while its network just took 37% of October's cross-chain revenue. That gap is the whole trade.
Honest follow-up: my last $SOL call was the $102 reclaim toward $104-$105. It faded. $SOL is $100.34, down 1.87%, after dipping to $99.26 today (Finnhub, 12:22 AM PKT; Crypto.com also $100.34). The $96 invalidation never broke, but $103.85 held too. We are stuck in the middle.
Two forces pull opposite ways. Spot SOL ETFs lost $24.82M over two sessions to Oct 28, with October outflows past $105M — real selling pressure. Yet cumulative inflows are still about $1.51B, and builders kept moving: Ondo went live on Solana on Oct 29, and Polygon brought its Open Money Stack to Solana the same day. The 37% revenue share, ahead of Tron at 24.8%, $BNB Chain at 15.3% and $ETH at 15.2%, says usage is not the problem. Flows are.
I am neutral, leaning cautious: price follows flows short term, and usage only wins if buyers return. No chasing inside this range.
If $103.85 breaks, $104-$105 returns. If $99.26 breaks, $96 is next. Invalidation stays below $96.
Which prints first — $104 or $99.26? Drop your number.
Data: Finnhub / Crypto.com, 12:22 AM PKT. Not financial advice. DYOR.
#Solana #DeFi
Honest follow-up: my last $SOL call was the $102 reclaim toward $104-$105. It faded. $SOL is $100.34, down 1.87%, after dipping to $99.26 today (Finnhub, 12:22 AM PKT; Crypto.com also $100.34). The $96 invalidation never broke, but $103.85 held too. We are stuck in the middle.
Two forces pull opposite ways. Spot SOL ETFs lost $24.82M over two sessions to Oct 28, with October outflows past $105M — real selling pressure. Yet cumulative inflows are still about $1.51B, and builders kept moving: Ondo went live on Solana on Oct 29, and Polygon brought its Open Money Stack to Solana the same day. The 37% revenue share, ahead of Tron at 24.8%, $BNB Chain at 15.3% and $ETH at 15.2%, says usage is not the problem. Flows are.
I am neutral, leaning cautious: price follows flows short term, and usage only wins if buyers return. No chasing inside this range.
If $103.85 breaks, $104-$105 returns. If $99.26 breaks, $96 is next. Invalidation stays below $96.
Which prints first — $104 or $99.26? Drop your number.
Data: Finnhub / Crypto.com, 12:22 AM PKT. Not financial advice. DYOR.
#Solana #DeFi
