Bitcoin broke below $70,000 overnight for the first time since August, and a wave of forced selling pulled SOL to $80.66 early Friday, down 2.2% in 24 hours and 10.6% on the week (CoinGecko). SOL fell less than bitcoin or ether. And while prices slid, two pillars of Wall Street's plumbing, DTCC and Visa, tied new services to Solana.
A leverage flush, not a Solana story
The drop came from the whole market. More than $1.3 billion of crypto futures bets were forcibly closed in 24 hours, almost all of them bets on higher prices, with the sharpest leg hitting as bitcoin lost $70,000 during Asian trading (CoinDesk, The Block). Behind it: Nvidia's CEO Jensen Huang stepping down, a 10-year Treasury yield near 5.12%, the dollar at a 19-month high, and index provider MSCI dropping bitcoin holder Strategy from its benchmarks (Saxo).
Bitcoin is at $69,395, down 4.8% on the day, and ether at $1,960, down 3.2%. SOL's smaller drop lifted it against both. It is still down 35.2% this year. The Crypto Fear & Greed Index fell to 20, Extreme Fear, its lowest reading since July (alternative.me).
One small bright spot: U.S. spot SOL ETFs took in $1.7 million on Nov. 12, all into Bitwise's BSOL, ending five straight days of withdrawals. Fidelity's figure is still pending (Farside).
Wall Street's plumbing picks Solana
DTCC, the firm at the center of U.S. securities settlement, said it will connect its new tokenization service to Solana in the second half of 2027. Stocks, ETFs and Treasuries held at its depository could then be issued as tokens on Solana while keeping their normal ownership rights and investor protections (DTCC, CoinDesk). It's a plan, not a launch, but it puts Solana on the roadmap of the system that settles most U.S. stock and bond trades.
The same day, Visa added USDPT, the Western Union dollar stablecoin that Anchorage Digital issues on Solana, as an asset its partners can use to settle what they owe on VisaNet (The Block). USDPT is still small, at roughly 18.9 million tokens.
Treasury company Forward Industries said it expects to take up to $30 million of GromaCoin, a token for shares in a U.S. rental-housing REIT, when it launches on Solana, targeted for early 2027 and pending SEC sign-off on a public sale (GlobeNewswire). All three moves are on The Catalyst Tracker.
A warning for treasury companies
Not every institutional headline was friendly. MSCI's first review under its new rule for "non-operating" companies removes Solana treasury firm Upexi from its U.S. micro-cap index after Nov. 30, and puts Solana Company and DeFi Development on a watchlist. Both stay in for now (Solana Compass). DeFi Development reported a $66.6 million third-quarter profit, almost all from SOL's rise before Sept. 30, on revenue down 47% (Solana Compass).
DEX Discovery
Solana DEXs handled $1.50 billion on Thursday, down 7% on the day, which put the network second behind Ethereum ($1.68 billion) with an 18.5% share (DefiLlama). The week totaled $9.38 billion, about 24% below the week before. The mix shifted toward safety: PumpSwap's busy spell faded, while Orca's volume rose 21% to $243 million as traders moved through SOL and dollar pairs. Launchpads held near 7% of volume, with pump.fun at about 92% of that. One established name stood out: Sanctum's SANC token more than doubled on Solana DEXs after Korea's Upbit listed it today. Many of the busiest new pools showed signs of automated trading and were left out.
What to watch
- Today: U.S. producer prices (PPI) at 8:30 a.m. ET, plus five Fed speakers.
- Nov. 15 to 17: Breakpoint London.
- Tue., Nov. 17: Nvidia earnings.
Why it matters for SOL: the price is following rates, leverage and the AI trade right now, not Solana news. But the institutional build list keeps growing. That gap is what Breakpoint will test.
Breakpoint Countdown: T-minus 2 days
Today is policy day at the run-up to Solana Breakpoint, and the speaker list reads like a regulatory panel: Boris Johnson, Sajid Javid and Patrick Witt are all on the agenda. With Breakpoint landing in London for the first time (Olympia London, Nov 15 to 17), the UK and US tone toward institutions is the story to watch.
The side-event calendar keeps growing: solana.com/events picked up 7 new community listings overnight, including a Token Supercycle session on Nov 15 and an After Hours event on Nov 17.
Why it matters for SOL: banks, exchanges and payment networks are the audience this year, and clear rules are what let them build. Tomorrow we publish the rule we'll grade by: launch dates over slides.
Prices as of ~6:50 AM ET on Nov 13, 2026. DEX volume is the prior full UTC day (Nov 12).
Not investment advice. See our Disclaimer.
