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Solana (SOL) Price Today: SOL Dips 3% to $116 Despite Record ETF Inflows
**Solana Family Daily Brief, Wednesday, October 7, 2026 (12:30 UTC)** ## SOL price snapshot (last 24h) - **SOL/USDT:** $116.47, **-3.1%** (24h open $120.22) - **SOL/USDC:** $116.45, **-3.1%** (24h open $120.17) - **24h range:** $116.30 to $122.00 - **Market cap:** ~$68.8B | **24h volume:** ~$2.86B SOL is trading near the bottom of its 24h range. The move tracks the wider market: BTC is down about 3.1% (~$83.5K) and ETH about 5.0% (~$2,574). This looks like a market-wide risk-off day, not a Solana-specific problem. SOL has held up slightly better than ETH. ## What happened in the Solana ecosystem **1. Solana Foundation launches Solana DvP, with J.P. Morgan's input** On October 6, the Foundation released an open-source delivery-versus-payment (DvP) standard built with J.P. Morgan's collaboration. DvP settles the asset and the payment together, atomically and onchain, instead of the usual T+1/T+2 cycle. It is one of the clearest signs yet that traditional finance is building settlement tools on Solana. **2. Permissioned securities standard approved (MPL-3643)** A new standard adds onchain eligibility checks to tokens. That makes permissioned real-world assets and tokenized securities workable on Solana. Together with the SEC's recent Innovation Exemption for tokenized stocks, it strengthens Solana's position as a home for tokenized capital markets. **3. Stablecoin supply on Solana hits a record $17.39B** Circle and Tether added more than $1.2B in new liquidity within about 24 hours. Open USD went live on Solana last week with over $1B in committed liquidity. Payment rails on the network keep growing even as prices pull back. **4. DeFi TVL reaches its highest level since the Drift hack** More than $6.5B is now locked in Solana DeFi, up about 38% over two months. The ecosystem has fully recovered from that exploit. **5. Spot SOL ETFs post record inflows** U.S. spot Solana ETFs took in $86.6M in a single day, their best day since launch, and $188.2M for the week. Solana treasury companies are also regaining room to raise capital and add SOL as their modified NAV improves. **6. Alpenglow heads to testnet** Alpenglow is Solana's biggest consensus upgrade. It replaces TowerBFT and targets about 150ms finality, and it is entering testnet this week. It follows the recent cut in slot time from 400ms to 250ms. ## Market sentiment for the next 24h: Neutral to slightly bearish (short-term) - **Bearish factors:** The whole market is in risk-off mode, with BTC and ETH both lower, and SOL is sitting near its 24h low around $116. If the $116 area doesn't hold, the next test could be in the $112 to $114 zone. - **Bullish factors:** Fundamentals are strong. ETF inflows are at records, stablecoin supply is at an all-time high, DeFi TVL is rising, and institutional rails (DvP with J.P. Morgan, MPL-3643) are arriving alongside the Alpenglow testnet. Dip buyers have good reasons to step in. - **Levels to watch:** Support at $116, then $112. Resistance at $120 to $122. A recovery above $120 would cancel out the day's decline. **Bottom line:** In the short term, price is following the macro mood and BTC. In the medium term, the gap between weak price action and strong onchain and institutional growth is getting wider. For now SOL follows the market, but adoption on Solana keeps growing. *Sources: SolanaFloor, Solana.com/news, Cointelegraph, Decrypt; price data from OKX and CoinGecko. This is not financial advice. Always do your own research.*