Solana (SOL) is among the top cryptocurrencies hit by the ongoing market liquidations. The Solana crypto has plunged more than 8.7% over the past 24 hours and over 20% in the past week. 🚨💸
Solana founder shifts attention from price
Amid the ongoing price drawdown, Solana Founder Anatoly Yakovenko has named the most important focus for the blockchain. 🤯
Yakovenko urged developers to stop staring at the red candles and build stuff people actually use. To the Solana founder, price is a lagging indicator, while code is the leading one. 🧠🚀
“The number one thing to focus on right now is shipping great products,” Yakovenko wrote in an X post. 📢
His comment is in response to a post from Raydium, a leading decentralized exchange (DEX) and automated market maker (AMM) built on Solana. 🏗️
In its post, Radium shared a quick morale booster with the Solana enthusiasts who are still holding their bags despite the recent price crash.
“Shoutout to all of the Solana bulls,” the Radium team wrote. 🐂
While Radium is sending love to Solana bulls, Yakovenko is encouraging the launch of products that make the bear market irrelevant. 🦄
The number one thing to focus on right now is shipping great products.
– toly 🇺🇸 (@aeyakovenko) November 4, 2025
Intriguingly, his comments come shortly after Western Union revealed plans to introduce a Solana-based stablecoin. The new product, dubbed the “U.S. Dollar Payment Token” (USDPT), is set to launch next year. 💵
Solana ETFs see robust inflows
Additionally, the SOL price drop is happening right after the first U.S. spot Solana ETFs launched in the U.S. 📈
According to Farside Investors’ data, Solana spot exchange-traded funds (ETFs) actually pulled in $70 million of inflows on November 3, 2025.
The Bitwise Solana ETF (BSOL) saw the highest inflows of $65.2 million, while Grayscale’s Solana ETF (GSOL) followed with $4.9 million. 💸
This marks a record-breaking daily high, signaling strong investor demand for Solana-based investment products. 🎉
Thus, the SOL price decline reflects broader market jitters, possibly influenced by macroeconomic factors, including interest rates. 🧠
Notably, the SOL ETFs began trading on October 28, after the U.S. Securities and Exchange Commission (SEC) gave the go-ahead. 📜
In their first week of trading, the ETFs attracted nearly $200 million in inflows, according to a U.Today report. If this momentum continues this week, the SOL price could recover from its lows and climb to new highs. 🚀
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2025-11-04 19:39