Overcast for Solana ⛅

Analysts said SOL is underperforming because of deleveraging pressure, priced-in corporate purchases, and upcoming FTX distributions

Author

Stacy Jones
September 24, 2025

Together with

📝 What you need to know

Solana is getting hammered compared to Bitcoin, Ethereum, and XRP as leveraged traders get squeezed out.

The altcoin faced $31.6 million in forced liquidations over 24 hours, dropping 10% this week to $212, according to Coinglass. Analysts told Decrypt recent corporate buying sprees from Forward Industries and DeFi Development were already baked into prices, creating a classic "buy the rumor, sell the news" dump once officially announced.

Adding fuel to the fire: FTX's upcoming $1.6 billion creditor payout at month-end is spooking markets. Prediction markets now lean bearish on SOL hitting new highs before 2025 ends.

Why Is Solana Falling Harder Than Bitcoin, Ethereum and XRP This Week?

Solana is underperforming Bitcoin, Ethereum, and XRP this week as analysts cite deleveraging pressure, priced-in corporate purchases, and upcoming FTX distributions.

Bitcoin’s Slump Widens Safe Haven Divergence for Gold

Bitcoin’s lackluster performance as gold soars is leading to an increased divergence between the two assets. Here's what could come next.

Franklin Templeton Taps BNB Chain for BENJI Expansion After Binance Team-Up

Franklin Templeton’s tokenization platform is expanding to BNB Chain, bringing the asset manager to the Binance-created blockchain.

'Hyperliquid-Aligned' USDH Native Markets Stablecoin Goes Live as HYPE Falls

After crypto titans fought over the ticker, the USDH stablecoin is now live on Hyperliquid—but HYPE is down as BNB-based rival Aster rises.

📊 Myriad Market of the Day

New Solana ATH by end of year?

Trade "New Solana ATH by end of year?" on Myriad

From our partner

Auros hosts Solana & Sake Night at the heart of Marina Bay Sands—an exclusive gathering for Solana builder community with partners World Liberty Financial, DoubleZero, Bonk, Arkham, & supported by Solana Foundation.

This event gathers builders, traders, VCs, & media, bonding over the thrill (and grind) of building, shipping products, and pushing digital capital markets forward.

Auros is committed to fostering innovation and collaboration in the Solana ecosystem.

🤡 Meme of the Day

🥇 Be First to Market With Myriad

Join the Myriad Markets Telegram to see the latest prediction markets the second they drop!

With Myriad, the on-chain prediction market launched by Decrypt’s parent company DASTAN, you can break the news and stake the news, using USDC and points.

From our partner

Gate and Decrypt to bring you Token of Love Music Festival around Token2049

The Token of Love Music Festival, titled by Gate and featuring Decrypt as a key partner, will take place in Singapore on October 1, 2025. The event boasts an all-star lineup including K-pop icon HyunA, U.S. rapper SUECO (known for viral hits “Fast” and “Paralyzed”), popular rock band CLICK#15, and history-making DJ KAKA—the first female artist to enter DJ Mag’s Top 100.

🕵🏻‍♀️ Editor’s Picks

PWEASE Solana Coin Skyrockets After Vice President JD Vance Posts Meme

Seven-month-old Solana meme coin PWEASE spiked on Wednesday, after U.S. VP JD Vance posted the infamous meme on social media.

Ian Calderon Runs for California Governor, Vows to Make State ‘Undisputed Leader’ on Bitcoin

The former Assembly majority leader’s campaign launched with a pledge to put Bitcoin on the state’s balance sheet.

Sam Bankman-Fried’s X Account Awakens, Sends FTT Token Soaring

The unexpected post sparked questions about inmate communications as the FTX estate sues for $1.1 billion and prepares a $1.6 billion payout.

📚 Watch and Learn

📹️ WATCH: Catching Criminals On-chain

Matt Price, Elliptic's director of investigations and strategic advisory, delves into the world of on-chain analytics, outlining the role of AI in crypto analytics, an evolving game of cat and mouse on-chain, and the challenges faced by law enforcement in tackling sophisticated financial crimes.

🎓️ LEARN: What Is Arc? The Stablecoin Blockchain From USDC Issuer Circle

Arc is a new Layer-1 blockchain developed by USDC issuer Circle, designed specifically for stablecoin-native finance.

Interested in partnering with Decrypt? Find out more here.