The calls for a bullish October, what crypto personas labeled ‘Uptober’, failed miserably as the crypto market wiped off nearly $1 trillion in market cap, causing the biggest liquidation event in crypto’s history.
Solana ($SOL) was one of the biggest losers, dropping from highs of $237 to $145 on November 4, representing a 38% drop in a month.
The first week of November provided no reprieve for Solana bulls, with the crypto hitting its lowest price since July this year, marking a possible bear run as the year closes.
Since November 4, $SOL’s price action has been relatively smooth, maintaining steady price levels between $150 and $160, untill 11 of November when the price started its freefall. In the past 24 hours, Solana’s price has dropped to $140, representing a solid 12% loss for the week, as of writing.
Nonetheless, the sixth-largest cryptocurrency remains the worst-performing crypto among the top 10 largest cryptocurrencies over the past week, with an 12% drop – a stark contrast to BTC’s -6% and Ethereum’s -8% return in the same period.
SOL Institutional Interest Spikes Amidst Bearish Market
Solana ETF investors, however, seem unfazed despite the coin having one of its worst weeks of the year. According to data from Bitwise, the recently launched Bitwise Solana ETF (BSOL) attracted over $30 million in inflows on Friday, marking the eighth straight day of recording positive inflows.
According to reports, Solana’s BSOL and GSOL spot ETFs grew to a cumulative sum of $335 million as of November 7. The increased inflows show institutional capital rotation from Bitcoin and Ethereum ETFs, as the two biggest crypto ETFs recorded huge outflows on Friday – Bitcoin ETFs having a net outflow of $550 million.
The weekend bounce and increased institutional interest could be a major catalyst to push SOL price towards the $200 mark, analysts predict. However, the current macroeconomic factors – particularly the US-China trade war and US monetary policy – could be a major hindrance to a bullish month for Solana despite the unwavering institutional interest.
Luckily, retail investors could leverage their Solana tokens for the upcoming token presales, allowing them to buy projects that may have a greater upside than the token itself. One such project, Earth Version 2, a blockchain-based MMRPOG game that allows players to compete and save the world from aliens, offers investors such an opportunity.
Buy $EV2 Presale With SOL
Early this week, Earth Version 2 announced the launch of its $EV2 token, giving early investors an opportunity to buy and stake the token. The presale is currently live, with each token trading at $0.01 at the first funding stage, with multiple rounds set to launch in the future. Early players and investors will be able to unlock mystery boxes and other in-game products and gain access to EV2’s economy.
EV2 token powers the Earth Version 2 ecosystem, fueling upgrades, player rewards, and marketplace trading. According to the official website, 40% of the total circulating supply will be available for public presales, which will be released in stages designed to match capital inflows to verifiable product progress.
Potential investors have a variety of options to buy the $EV2 token, including Ethereum, BNB, Solana, Tether, and Bitcoin. What sets the presale apart is that investors can also buy using their bank card, which improves accessibility to the ordinary investor and builds on the trust and legitimacy of the project.
What Does November Hold For SOL?
The weekend spike across the crypto market signals a reprieve for bulls after a rough month that saw a record $19 billion wiped off the crypto market in long liquidations following the US-China tariff war. However, with tensions easing up, analysts predict a calmer market in the final months of 2025.
Solana, in particular, is currently ranging in its accumulation zone (below $170), with a spike past the zone signalling a possible return to a bullish stance. The technical indicators, such as the daily RSI, show an oversold market, which gives bulls an opportune moment to buy. A close above the MA 200 at $180.53 will signal a return to bullish momentum, with a target of $200 firmly in sight.
For investors with no technical experience in trading, presales such as $EV2’s token sale could be an opportunity to enter early into a solid project, as they await a bullish reversal in the crypto market.
EV2 Presale
Website: https://ev2.funtico.com/
Telegram: https://t.me/EV2_Official
Twitter/X: https://x.com/EV2_Official
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