Solana price drop reaches 5.2% after a sharp midday sell-off

The Solana price drop reached 5.2% in 24 hours, with Solana ($SOL) at $110.17 as of 7:40 p.m. ET on Oct. 8, per CoinGecko.

The quick take

Price: $SOL at $110.17, -5.2% ↓ in 24 hours and -6.3% ↓ over seven days (CoinGecko, 23:40 UTC).
Trigger: the steepest hour came late in the New York morning, a 3.5% drop on Binance’s SOL/USDT pair.
Watch: whether the rebound from the day’s $105.85 low holds.

What happened

The Solana price drop reached 5.2% over the 24 hours to 7:40 p.m. ET on Thursday, Oct. 8. Solana ($SOL) traded at $110.17, according to CoinGecko. Jupiter’s price feed showed $110.13, a gap of 0.04%.

CoinGecko put the day’s high at $116.71 and the low at $105.85. The token has since climbed about 4% off that low. Over 30 days, $SOL is still up 6.6%.

$SOL now sits 62% below its record high of $293.31, set on Jan. 19, 2025, per CoinGecko. Its market value stands at $64.8 billion.

Why it moved

The selling picked up in the late morning in New York. On Binance’s SOL/USDT pair, the hourly close fell from $112.52 at 15:00 UTC to $108.57 an hour later. The lowest hourly close on that pair, $106.37, came at 18:00 UTC.

Large coins fell too, but less. LiveCoinWatch showed Bitcoin ($BTC) down 1.9% at $81,797 and Ether ($ETH) down 4.0% at $2,477 at 23:41 UTC. No single trigger for the Solana move was confirmed by the time of writing.

Who’s buying and selling

Trade counts did not show a rush for the exit. In the largest $SOL pool, Orca’s SOL/USDC, DexScreener counted 46,507 buys and 43,583 sells over 24 hours. GeckoTerminal showed a similar split, and the pool held $27.9 million in liquidity.

CoinGecko put total 24-hour $SOL trading volume at $4.9 billion. Across Solana DEXs, DefiLlama tracked $2.21 billion in daily volume. Solana DeFi deposits stood at $6.24 billion.