Solana Selloff Drains TVL, Long-Term Holders Trim 910K SOL

Solana’s SOL price fell about 17% over the past week as on-chain data showed asset outflows, selling by long-term holders and weaker trading activity.

DeFi total value locked on Solana, excluding liquid staking, dropped about 9.6% over the week to roughly $4.87 billion. Over the past 30 days DeFi TVL on the network fell about 15%.

Addresses that held SOL for 155 days or more reduced net positions from about 3.27 million SOL on May 31 to about 2.36 million SOL by June 6, a net decline of roughly 910,000 SOL.

Centralized exchange volume for SOL spiked to $7.03 billion on June 6, then eased in the days after. Solana’s share of total decentralized exchange volume was about 22.6%, below its 60-day average of 23.3% and down from roughly 30.4% on June 4.

SOL reached a low near $60 on June 6 and rose about 13% from that bottom in the following days. The distribution of holders’ acquisition prices shows a concentrated cluster around $74 to $75, a price range where many addresses bought SOL.

Long-term holder net position change turned higher after the June 6 low, showing net additions by those addresses during the early rebound.