Solana (SOL) Price Today, November 21, 2025: ETF Inflows Clash With Crypto Sell-Off

Solana (SOL) is trading sharply lower today as a brutal crypto-wide sell-off collides with record demand for newly launched Solana spot ETFs. At the time of writing, SOL changes hands around $126–127, down roughly 10–11% in the last 24 hours, with a 24-hour range of about $126 to $142. That leaves Solana’s market capitalization near $70.7 billionand 24-hour trading volume close to $9.7 billion. ^[1]

Meanwhile, the broader crypto market has shed around 6–9% over the past day, with Bitcoin sliding below $86,000 and sentiment plunging into “extreme fear” on major indices. ^[2]

Key facts: Solana price today (21 November 2025)

Current SOL price: ≈ $126.44
24h change: about -10.9% (figures vary slightly by data provider, CoinMarketCap shows ~-10.8%). ^[3]
24h low / high: roughly $126.45 – $142.13 ^[4]
7‑day change: around -11%
30‑day change: roughly -32%
1‑year change: still up about 48% versus this time in 2024 ^[5]
Market cap: ≈ $70.7 billion
24h volume: ≈ $9.67 billion
Rank: around #7 among all cryptocurrencies by market value ^[6]

So even after today’s drop, Solana remains one of the largest and most traded crypto assets – but it’s caught in the crossfire of a highly leveraged market shakeout.

Why is Solana down today?

1. A market-wide risk-off move

Several data points and news reports paint the same picture: this isn’t just about Solana – the whole crypto market is under pressure.

A CoinDesk markets report highlights nearly $2 billion in crypto liquidations over the last 24 hours, with hundreds of thousands of traders wiped out as Bitcoin briefly plunged toward $80,000 on some venues. ^[7]
ABP Live notes that Bitcoin has slipped under $86,000, with Ethereum, Solana and other majors “in the red across the board” as the global crypto market cap falls to around $2.94 trillion, down about 6.5% on the day. ^[8]
CoinMarketCap’s AI-based analysis puts the 24h global market cap drawdown near 6.2%, with Solana underperforming that average. ^[9]
Indices like the Crypto Fear & Greed Index sit around 11/100, firmly in “extreme fear” territory – their lowest levels since late 2022 or early 2025 depending on the source. ^[10]

In short, macro nerves and overextended leverage are driving forced selling. Solana, as a high‑beta Layer‑1, tends to move 2–3x the market in both directions, so it’s getting hit harder than Bitcoin or some large-cap peers. ^[11]

2. Technical breakdown below key support

On the technical side, multiple analyses agree that a break of the $140 zone has turned into a serious headwind for SOL:

CoinMarketCap’s analysis notes that SOL slipped below its 50‑day EMA around $140 and a key Fibonacci retracement near $145, with RSI near 33, close to oversold. A sustained failure to reclaim $140 opens the door to a retest of the $120 area, flagged as a key 2025 low. ^[12]
Bitget’s markets desk also highlights heavy futures selling near $140, framing that level as a strong resistance ceiling. Their data suggest that if the zone continues to cap rallies, SOL could slide back toward $120 supportdespite strong ETF inflows. ^[13]

The upshot: today’s drop isn’t just random volatility – it’s tied to important chart levels being lost, triggering stop-loss cascades and liquidations.

ETF inflows: Solana’s surprising bright spot

While the spot price looks ugly, Solana’s ETF story is remarkably strong and is one of the most important themes today.

1. 17 straight days of ETF inflows

Bitget reports that Solana spot ETFs have now recorded 17 consecutive days of net inflows, totaling about $476 million in demand. ^[14]
ETF flow dashboards tracked by AMBCrypto show that on 20 November, Solana funds saw a record single‑day inflow of around $55 million, pushing cumulative net inflows to that same $476 million region. ^[15]

In other words, institutional and ETF investors are still buying SOL on dips, even as the price sells off aggressively on derivatives venues.

2. TSOL and the expanding Solana ETF lineup

Several recent launches have transformed Solana’s investability for traditional investors:

21Shares’ TSOL ETF went live on the Cboe this week with about $111 million in seed capital, becoming one of the largest new Solana funds at launch. ^[16]
Coinspeaker notes that active Solana ETFs now collectively hold around $421 million in assets, with no negative flow days since their debut on October 28. All of the major U.S. Solana ETFs are staking‑enabled, passing on staking yields (around 6.3% APY) to shareholders. ^[17]
AInvest’s institutional recap estimates that, across 2025, Solana-linked products have attracted over $1 billion in net inflows, reflecting growing interest from corporate treasuries and professional asset managers. ^[18]

Depending on methodology (whether global ETPs are included), some coverage – for example at CryptoNews – puts global Solana ETF/ETP inflows closer to $800–900 million. ^[19]

The big picture: Solana’s ETF complex is one of the few structurally positive stories in an otherwise shaky market, even if short-term price action doesn’t yet reflect that.

Leverage, futures, and open interest: behind the volatility

Derivatives positioning is a big part of why SOL’s moves are so violent.

Analysis from Bitget shows strong selling interest clustered around $140 in Solana futures, with growing open interest suggesting traders are positioning for volatility – some hedging ETF exposure, others shorting into the rally. ^[20]
A separate piece (referenced by CryptoDnes) notes that SOL’s open interest has dropped about 62% over the last three months, from roughly $8.84 billion to around $3.36 billion, as highly leveraged bets have been flushed out. ^[21]
CoinMarketCap’s AI analysis highlights that overall crypto perpetual futures open interest has fallen sharply since October, echoing CoinDesk’s reporting on widespread liquidations and thinning order books across major exchanges. ^[22]

Put simply, leverage is coming out of the system. That’s painful in the short term – amplifying today’s downside – but it can also set the stage for more sustainable moves later if and when buying returns.

On-chain and ecosystem news supporting Solana

Even as the token price drops, Solana’s underlying network narrative remains strong.

1. PrimeXBT adds Solana support

A Chainwire release carried by Business Insider confirms that PrimeXBT has integrated the Solana network into its payments and wallet infrastructure. Users can now deposit and withdraw USDT and USDC over Solana, benefiting from sub‑two‑second settlement times and significantly lower network fees than Ethereum. ^[23]

This integration means:

Cheaper, faster stablecoin transfers for PrimeXBT’s global user base
More real trading and settlement flow across the Solana network
Additional visibility among leveraged traders and derivatives users

2. Activity, throughput and the coming “Alpenglow” upgrade

Recent analyses emphasize that Solana isn’t just trading volume – its on-chain usage is enormous:

A feature comparing Solana and Ethereum highlights that Solana has over 120 million monthly active addresses, far above Ethereum’s base layer numbers, and that its app ecosystem generated nearly $186.9 million in revenue in a single recent month, more than double Ethereum’s for the same period. ^[24]
The same report and AInvest’s institutional piece note that Solana routinely handles thousands of transactions per second in practice, with architecture tested toward 100,000 TPS and more than 23 billion transactions processed in 2025 so far. ^[25]

Crucially, Solana’s community has already approved the Alpenglow upgrade, touted as the network’s largest upgrade to date, targeted for mainnet deployment in Q1 2026. The upgrade aims to make Solana’s consensus more robust, faster, and more reliable – potentially widening its performance gap with competitors like Ethereum if everything goes to plan. ^[26]

Stablecoins vs SOL: sentiment tug‑of‑war

Not all of today’s news favors Solana.

An AInvest “Solana News Today” brief notes that USDC has now surpassed SOL in market cap, highlighting a growing investor preference for stable, yield‑bearing assets over volatile protocol tokens in moments of stress. ^[27]

The same coverage points out that:

Solana Company (the public entity tied to the ecosystem) reported a Q3 2025 net loss of about $352.8 million, largely due to derivative liabilities linked to a PIPE financing deal and unrealized losses on its digital asset treasury.
That treasury, worth roughly $350 million, saw unrealized drawdowns of around $30.5 million as markets turned lower. ^[28]

The contrast is stark: while Solana the network is booming in usage and ETF interest, Solana-related corporate financials and the rise of stablecoins are reminding investors how brutal volatility can be.

How analysts are reading Solana’s charts

Today’s price action lands in the middle of a heated debate among technical and macro analysts.

1. Bullish arguments

Several pieces published today and in recent days outline a constructive medium-term view:

Indonesian exchange Pintu’s analysis describes a falling-wedge pattern on SOL’s daily chart, with multiple bounces from the $130–132 support zone and earlier pushes toward $142–157. A confirmed breakout from that wedge was seen as capable of targeting the $160–200 range. ^[29]
Brave New Coin highlighted a potential double-bottom formation around the $130 area, arguing that if SOL reclaims resistance levels, it could “lead the market recovery” toward $160. ^[30]
Coinspeaker’s ETF-focused price piece noted that while SOL was stuck in a downtrend, RSI near mid‑30ssuggested weakening bearish momentum, and that a sustained move back above roughly $146 could mark the start of a more meaningful rebound. ^[31]

All of these bullish takes were published when SOL was trading higher (often in the $134–145 zone). Today’s drop toward $126 doesn’t invalidate them entirely, but it pushes price closer to their downside risk scenarios.

2. Bearish and cautious views

On the other side:

CoinMarketCap’s AI analysis is blunt: SOL’s drop is driven by a broad market downturn, technical breakdown below $140, and concerns around large Digital Asset Treasury (DAT) liquidations. It warns that failure to reclaim $140 keeps the door open to a test of $120. ^[32]
A CryptoNews deep‑dive frames the recent sell‑off in starker terms, noting that SOL is down around 40% year-to-date from its highs, even as Solana ETFs attract hundreds of millions in inflows. It floats a worst‑case scenario where SOL could revisit the $30 region if macro and leverage conditions deteriorate dramatically, while also laying out a bullish path back toward $150–170 should support around $130 hold. ^[33]
Another CryptoNews article relays Perplexity AI’s scenario analysis: in a conservative “bear case,” SOL might end the year near $135, only slightly above current levels, even while their more optimistic scenario imagines a long‑term path toward $380 under favorable conditions. ^[34]

All of these are hypothetical scenarios, not guarantees. They do, however, underline the same key point: today’s price zone around $120–140 is seen as a critical battleground by many market watchers.

Levels to watch for Solana in the short term

Based on the combination of ETF flow reports, technical write‑ups, and AI‑assisted analyses, several price zones stand out:

$120: widely referenced as major support and a possible retest target if selling persists. ^[35]
$125–130: a “defense zone” where several analysts have recently spotted double‑bottom or wedge patterns, and where dip‑buyers have previously stepped in. ^[36]
$140: current pivot / resistance – failed retakes here have repeatedly triggered renewed selling. ^[37]
$150–160: upside targets mentioned in more optimistic scenarios, contingent on reclaiming $140 and broader market stabilization. ^[38]

Remember: these are reference zones, not price promises. Markets can move far beyond them, especially in high‑volatility conditions like today.

What this means for traders and long-term holders today

Nothing in today’s news changes a few core realities about Solana:

Structurally, the network is strong: High throughput, growing dApp revenue, and huge address counts suggest real usage, not just speculation. ^[39]
Institutional adoption is real but young: ETFs have brought hundreds of millions of dollars into SOL in a matter of weeks, but that’s still small relative to total market cap and can’t fully offset aggressive derivatives selling in the short run. ^[40]
Macro & leverage dominate today’s tape: As long as Bitcoin remains under pressure and fear stays elevated, even strong narratives like Solana’s ETF story can be overwhelmed by risk‑off flows and liquidations. ^[41]

If you’re watching SOL today, some practical checkpoints:

Monitor key levels: Whether price defends $120–130 or breaks lower will likely shape sentiment over the next few weeks.
Track ETF and ETP flows: Continued positive flows into Solana ETFs, even on red days, would reinforce the idea that long-term capital is still accumulating, not fleeing. ^[42]
Watch macro headlines: U.S. jobs data, interest‑rate expectations, and Bitcoin ETF flows are influencing crypto risk appetite as much as (or more than) chain-specific news right now. ^[43]

Quick FAQ: Solana price today

What is Solana’s (SOL) price right now?
At the time of writing on 21 November 2025, Solana is trading around $126–127 per SOL, depending on the exchange and data provider. ^[44]

Why is Solana down so much today?
Primarily because of a market-wide sell‑off triggered by macro uncertainty, heavy leverage and liquidations, and a technical break below $140 support. ^[45]

If ETF inflows are strong, shouldn’t the price be higher?
ETF inflows help, but they’re just one source of demand. At the moment, they are competing with derivatives traders selling around $140, broader crypto outflows, and forced liquidations. Over time, persistent ETF buying can improve the supply–demand balance, but it doesn’t guarantee immediate price gains. ^[46]

Is Solana a good buy after today’s drop?
That depends entirely on your own risk tolerance, time horizon, and portfolio. Analysts are split: some see current levels and ETF inflows as a long‑term opportunity, others warn of the possibility of deeper drawdowns toward $120 or even lower if macro conditions worsen. ^[47]
This article is not investment advice – always do your own research and consider speaking with a qualified financial professional.

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