Solana has fallen approximately 20% in 30 days and could continue declining ahead of the U.S. midterm elections, according to an analysis by Joao Wedson. SOL’s historical performance, including the period between 2022 and 2023, indicates that the asset generally underperforms during the year following midterm elections, while liquidation clusters could trigger a drop toward $73. Network activity is weakening: revenue fell from $1.3 million on October 6 to $442,000, and transactions declined from roughly 163 million to 120 million. U.S. spot SOL ETFs recorded $71.48 million in net outflows over five trading sessions, although the network’s total value locked rose slightly to $5.416 billion. These factors leave the market exposed to further losses despite stable locked value.
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