SOLana’s Staking Drama: Is $65 the New Black?

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Oh, Solana (SOL), you’re like that friend who shows up to a party in a sequined jumpsuit but then spills their drink all over the carpet. The price is down 30% in the last 30 days, and it’s basically doing the financial equivalent of the “walk of shame” inside a descending channel. Spoiler alert: the carpet isn’t going to clean itself.

Meanwhile, staking activity is collapsing faster than my New Year’s resolution to eat fewer carbs. Net staking is down, exchange buying is slower than a sloth on a Sunday, and short-term traders are swarming like seagulls at a beach picnic. Basically, more SOL is about to hit the market, and it’s not here to make friends.

Staking Collapse: The Financial Version of a Breakup

Remember when everyone was all “Solana is the future!”? Well, now it’s more like “Solana, who?” Staking activity has dropped sharper than my self-esteem after a bad haircut. In November, everyone was locking up their SOL like it was a limited-edition Beanie Baby. Fast forward to February, and unstaking is up 150%. That’s right-people are pulling their SOL out faster than I pull out of a conversation about cryptocurrency with my aunt.

By mid-January, the net unstaking was -449,819 SOL. By February 2? -1,155,788 SOL. That’s not just a dip-that’s a full-on cannonball into the pool of liquid supply. And once it’s unstaked, it’s like unleashing a herd of cats at a yarn convention. Spoiler: it’s not pretty.

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So, all this unstaked SOL is hitting the market like a ton of bricks. And just as it’s doing that, the price is flirting with the lower edge of its descending channel. It’s like showing up to a job interview in sweatpants-not a great look.

With SOL hovering around $96, it’s like watching a tightrope walker without a net. If selling picks up, that channel support might as well be made of wet tissue paper.

Exchange Buying: The Slowest Clap in History

Exchange buying is slowing down like a Netflix series that’s lost its plot. On February 1, it was at -2.25 million SOL. By February 3? Down to -1.66 million SOL. That’s a 26% drop in two days. Accumulation is basically taking a nap, and no one’s bothering to wake it up.

And while buying is snoozing, unstaking is throwing a party. More SOL is hitting the market, and demand is like, “Nah, I’m good.” When supply goes up and demand goes down, the price does the financial equivalent of face-planting into a cake. It’s not pretty, folks.

Meanwhile, the speculators are back, and they’re bringing their popcorn. The one-day to one-week cohort increased their share from 3.51% to 5.06% between February 2 and February 3. These are the folks who show up for the drama and leave before the cleanup. Sound familiar?

We’ve seen this movie before. In late January, this cohort held 5.26% of the supply when SOL was at $127. By January 30, their share dropped to 4.31% as the price fell to $117. Moral of the story? These folks are here for the ride, not the destination. And that ride might end with a crash.

Key Price Levels: $65, Anyone?

Technically speaking, SOL is still trapped in its descending channel like a goldfish in a bowl. After losing the $98 support, it’s now chilling near $96, which is basically the financial equivalent of standing too close to the edge of a cliff. If that support breaks, the next stop is $67, and then maybe $65. Because why not?

On the upside, recovery is about as likely as me winning a marathon. To even think about bouncing back, SOL needs to reclaim $98, then $117. And let’s be real-that’s about as likely as me giving up coffee. Not happening.

So, here we are. Staking is collapsing, exchange buying is napping, and speculators are popping popcorn. More SOL is hitting the market just as the price is looking for a safety net. Unless long-term accumulation decides to show up (spoiler: it probably won’t), SOL is looking at a date with $65. And let’s be honest-no one wants that date.

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2026-02-04 18:36