Solana (SOL) Price: Drops Below Support as Alameda Unlocks Continue
TLDR
Solana (SOL) dropped 4.9% to $153.49 despite recording $336 million in weekly ETF inflows over 10 consecutive days of positive flows.
Alameda Research unlocked another 193,000 SOL tokens valued at approximately $30 million on November 11 as part of ongoing monthly vesting through 2028.
Large order book data shows whales accumulated roughly $26 million worth of net spot inflows across major exchanges over three days, with over $457 million in long positions.
Grayscale and Bitwise Solana ETFs now hold about $351 million worth of the cryptocurrency combined, with Bitwise leading weekly inflows at $118 million.
SoFi Bank became the first U.S. bank to facilitate direct Solana trading through user checking accounts, opening new retail access channels.
Solana price fell 4.9% to $153.49 this week despite continued institutional support. The decline came as the token broke below key technical support levels at $156.
The drop occurred on elevated trading volume running 17.25% above the seven-day average. This indicates active repositioning rather than passive drift.
Institutional demand remained strong through the price decline. Solana spot ETFs recorded their tenth consecutive day of inflows this week. Weekly inflows totaled $336 million across the ETF products.
Grayscale and Bitwise Solana ETFs now collectively hold about $351 million worth of the cryptocurrency. Bitwise led weekly inflows with $118 million. The company maintains its yield-focused strategy through staking rewards averaging over 7% annually.
Major financial institutions including Rothschild Investment and PNC Financial Services disclosed new holdings in Solana-based products. Grayscale introduced options trading for its Solana Trust ETF to provide additional hedging tools for institutional traders.
Token Unlocks Create Selling Pressure
Selling pressure intensified following another scheduled token unlock from bankrupt Alameda Research. The FTX estate released approximately 193,000 SOL tokens worth $30 million on November 11.
$SOL Alameda unlock update
The most recent Alameda Research/FTX estate @solana ($SOL) unlock occurred today, November 11, 2025, involving approximately 193,000 $SOL valued at around $30 million. This is part of their ongoing monthly vesting schedule under bankruptcy…
— MartyParty (@martypartymusic) November 11, 2025
These releases are part of ongoing monthly vesting that began in November 2023. The program has been gradually distributing over 8 million tokens. These structured releases are managed under bankruptcy oversight and typically flow to major exchanges for creditor repayment.
The bankruptcy estate maintains approximately 5 million tokens in locked or staked positions. Smaller monthly unlocks will continue through 2028 based on pre-2021 investment agreements.
Large order book data on Coinglass showed elevated whale activity around Solana since Monday. Whales accumulated roughly $26 million worth of net spot inflows across Binance, OKX, and Coinbase over three days. They also executed over $457 million worth of long positions on Binance and OKX during the same period.
Retail Access Expands Through SoFi Bank
U.S.-based SoFi Bank recently announced it will start supporting crypto trading services. Solana’s official account confirmed that SoFi was the first bank to facilitate access to SOL through user checking accounts.
🚨JUST IN: SoFi, a regulated US bank with $36B in deposits, is introducing the option to buy $BTC, $ETH and $SOL directly from checking accounts. This is the first time a US-regulated bank is offering direct @Solana purchases through standard retail banking channels. pic.twitter.com/xtuTdYu2h5
— SolanaFloor (@SolanaFloor) November 11, 2025
The 60-minute technical analysis shows accelerating bearish momentum as SOL broke critical support at $156. The breakdown occurred during 15:00-16:00 UTC when price collapsed from $155.40 to $152.86 on 212,000 volume. This represented 123% above the hourly average.
Primary support establishes at the $152.80 demand zone with secondary levels at $150. Immediate resistance sits at $156, which was formerly support, and $160.
The token faces opposing forces between systematic token releases creating predictable selling pressure and institutional flows providing underlying support. A bounce toward $160-$165 resistance remains possible if $152.80 holds. A breakdown below $150 would accelerate toward $145 support levels.
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Filed under: News - @ November 13, 2025 8:23 am