SOL fell to about $72.30 by midday Saturday, down 9.0% in 24 hours, while bitcoin lost 5.0% to $65,150 (CoinGecko). That gap is the story. Priced in bitcoin, one SOL now buys about 0.00111 BTC, the least since June 20 on CoinGecko's daily data.
This morning's sell-off was mostly about rates and a market-wide leverage flush. Since then, SOL has been pulling away from the pack on the way down. It is off 19.0% over seven days, against 13.6% for bitcoin and 18.3% for ether. Among the ten largest cryptocurrencies by market value, only HYPE fell more over the past day, and SOL's market value has shrunk to $42.7 billion, seventh largest (CoinGecko).
Long bets keep getting closed
A liquidation is an exchange force-closing a borrowed bet that has lost too much. Each one is a market sell, so they can feed on each other. In the hour ending 11:47 a.m. ET, $11.25 million of bets on a higher SOL price were liquidated on Binance, Bybit and OKX as the token slid from $74.15 to $72.08. Short sellers lost just $20,000 in the same hour (TokenPost).
Across 13 exchanges tracked by TRdesk, SOL liquidations reached $58.1 million over the 24 hours to 10:46 a.m. ET, and 97.5% of that came from longs (TRdesk). Funding on Binance's SOL perpetual contract turned slightly negative, about −0.004% per eight hours, so traders betting on a fall are now paying those betting on a rise (AlertaChart). In plain terms, the crowd has turned defensive.
Two supply watch items
Pump.fun sent 64,666 SOL, about $5.19 million, to Kraken on Friday evening. TokenPost, which reported the move, stresses that a deposit to an exchange does not confirm a sale. It puts Pump.fun's total SOL sales since 2024 at 5.62 million SOL, at an average price near $158 (TokenPost, Lookonchain).
Separately, Proxima, a Solana trading tool that manages wallets for its users, said about $200,000 to $250,000 was drained through a vulnerability in SigNoz, a third-party monitoring service it uses. Proxima says that is under 5% of the funds on the platform. Its co-founder said only wallets created, imported or exported through Proxima in the past 15 days were exposed, and that affected SOL balances will be refunded when the platform reopens tonight (Proxima co-founder on X). The root cause has not been independently confirmed. The losses are small, but a tool that holds your keys works like a hot wallet, with every piece of software on its servers as extra attack surface.
Builders are still showing up
In London, Scale or Die, the engineering summit held the day before Breakpoint, reached full capacity this morning (Solana Developers). Solana also added Breakpoint speakers, among them SoFi, whose SoFiUSD bank stablecoin runs on Solana, and Formation, which has told the SEC it plans a tokenized securities venue on Solana from early 2027. MoonPay is on the list too: its PayBox lets AI agents pay, with Solana as the main settlement chain (Solana on X). These are projects under way rather than new money today. We log them on the Catalyst Tracker.
Market check
Ether is near $1,816 (−5.6%), BNB is down 7.1% and XRP 6.8%. The Fear & Greed Index is still at 13, Extreme Fear (alternative.me). U.S. spot SOL ETFs do not trade over the weekend, so the next fund-flow data arrives Monday. Live numbers are on the Dashboard.
Prices as of ~12:20 PM ET on Nov 14, 2026.
Not investment advice. See our Disclaimer.
