Solana logs eight straight monthly losses as $80 wobbles
Solana closed eight straight red monthly candles through May 2026, with SOL near $81 after roughly $78 billion in market-cap losses since an October 2025 peak.
Solana recorded eight consecutive red monthly candles from October 2025 through May 2026, the longest monthly losing streak in the token’s history. On June 1, SOL traded near $81 and the $80 support area showed pressure.
Crypto commentator Ash Crypto tweeted, “This is unbelievable. SOL just closed 8 consecutive red monthly candles for the first time in history.”
SOL reached a high near $220-$230 in October 2025, when Solana’s market capitalization topped $120 billion. As of June 1, market capitalization stood near $47 billion, a decline of about $78 billion from the October peak. Year to date, SOL opened near $138 in January, fell to roughly $68 in April and recovered partially.
Market participants pointed to several factors behind the price weakness. Federal Reserve policy remained restrictive and risk-off flows reduced demand for speculative assets. Meme-coin activity that previously boosted Solana’s network has faded and retail speculative volume has declined. Technically, traders reported repeated rejections in the $85-$90 range and some are watching for a breakdown below $80 that could push prices toward $70.
On-chain metrics remained robust. In the 24 hours to June 1, the network processed about 75.71 million transactions and logged roughly 1.64 million daily active addresses. Solana’s decentralized finance ecosystem held about $5.31 billion in total value locked and stablecoin supply on the platform was about $14.659 billion. Non-vote transaction counts stayed near record levels and developers continued work on Firedancer and Alpenglow, upgrades aimed at faster finality and higher throughput.
Analysts offered a range of scenarios. Some forecast a near-term recovery to $85-$88, while more optimistic outlooks put SOL at $120-$150 later in 2026 if macro conditions ease. Institutional flows into U.S.-listed crypto exchange-traded funds showed cumulative net inflows of roughly $1.13 billion across eight ETFs.
Investors and traders are monitoring resistance around $85-$90, the pace of ETF inflows and the $80 support level as indicators of near-term direction.
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