Solana extended its bearish run after September’s U.S. Consumer Price Index rose 3.7% year-over-year, exceeding the 3.6% forecast and raising concerns about persistently elevated interest rates. The hotter-than-expected inflation data drove treasury yields higher and strengthened the U.S. dollar, adding pressure to risk-sensitive assets including cryptocurrencies. DeFi tokens in the Solana ecosystem suffered significant losses, with Jupiter (JUP) falling 9.4% and Raydium (RAY) declining 10.6%. The network’s transaction volume dropped to $20.25 million while daily active addresses fell to 3.74 million, indicating weakening participation as investors grew more cautious. SOL is currently trading below its 20-day and 50-day exponential moving averages at $103, with the $100 psychological level representing the next key support.
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