Solana (SOL) Plummets to $93: Could Crash to $50 Next?

Solana (SOL) faces sharp decline and hit recent low at $90, as of February 5, 2026. SOL is currently trading at $93.35, down 6.19% in the last 24 hours, with trading volume rising to $7.19 billion, a 45% increase from the previous day, as per CoinMarketCap data. Over the past week, SOL has declined 25.61%, highlighting elevated market volatility.

Strong Fibonacci Support Identified

In an X post, Crypto analyst Crypto Patel noted that SOL is currently trading below the 0.382 Fibonacci retracement level, signaling near-term weakness. “The digital asset may test the $50 range before potentially reaching my long-term target of $500–$1,000,” Patel said. 

He identified a potential accumulation zone between $55 and $75, citing strong Fibonacci support. Historical charts from 2021 to early 2026 show SOL reached an all-time high in the $250–$260 range before experiencing a correction, with the current downtrend possibly representing the final leg toward major support levels.

Solana Foundation Launches Institutional Trading Program

The Solana Foundation has launched a new program designed to support institutional trading on its decentralized finance (DeFi) ecosystem.

Targeting hedge funds, proprietary trading firms, market makers, and crypto-native teams, the initiative, called “Trade on Solana”, offers structured onboarding, high-frequency market data compatible with the FIX protocol, and advanced tools to improve transaction analysis and execution quality.

Participants also receive guidance on accessing broader DeFi protocols, yield opportunities, and infrastructure partners. Industry observers describe the program as a key step toward professional-grade adoption, bridging the gap between traditional finance workflows and blockchain-based markets. 

Auyush Giri, senior developer relations at Nethermind, noted that Solana’s focus on institutional infrastructure reflects demand from growing market activity and maturation of the ecosystem.

The institutional launch coincides with strong network activity. In January 2026, more than $380 million in assets were bridged from other blockchains, including $140 million from Ethereum. Solana-based applications generated over $146 million in revenue, surpassing other Layer-1 and Layer-2 networks. 

Major contributors included Pump.fun ($46 million), Axiom ($15.36 million), and Meteora ($13.4 million). Tokenized asset volume on SOL also reached a record $148 million, reflecting growing institutional and enterprise experimentation.

Together, these developments indicate short-term SOL volatility alongside long-term strategic growth, as institutional engagement and ecosystem maturation continue to shape the Solana network’s trajectory.

Also Read | Solana Could Reach $2,000 by 2030 Despite Recent Drop to $100