SOL Hits 2026 Lows Amid Broader Market Turmoil
By John Nada·Feb 1, 2026·2 min read
SOL dropped to $100.30, its lowest since April 2025, driven by tech layoffs and market fears. Despite this, Solana's network fees surged amid weak sentiment.
Solana's native token, SOL, fell to its lowest levels since April 2025, trading down to $100.30 as tech sector layoffs and AI revenue concerns roiled markets. Despite the challenging environment, Solana managed to outpace competitors, with network fees surging 81% and active addresses increasing by 62%. However, the broader market sentiment remains weak after $165 million in leveraged bullish positions were liquidated. Rising tensions in Iran and Amazon's announcement of significant job cuts further fueled investor anxiety.
The report highlighted that the cryptocurrency market is bracing for more downside, particularly following a notable 26% crash in silver prices. Investors are shifting their focus to safety, with demand for leveraged positions on SOL dwindling as tech companies faced sharp declines. Moreover, Solana spot exchange-traded funds (ETFs) experienced $11 million in net outflows, indicating a lack of confidence in the asset.
Interestingly, while gold—a traditional safe haven—traded down 13% from its recent all-time high, Solana's robust on-chain activity positions it as a leader in decentralized application engagement. Still, SOL's ability to regain bullish momentum hinges on renewed confidence in global economic growth and a reduction in socio-political risks. Without these changes, SOL may continue to struggle in the near term.
Investors should stay alert, as the path forward for SOL is closely tied to the macroeconomic landscape and market sentiment.