Solana slipped 1.66% to USD 103.17 in an October 18 market snapshot, trailing Bitcoin's nearly unchanged performance. The decline came as US spot Solana exchange-traded funds extended a withdrawal streak and traders reduced futures exposure.
Meanwhile, the network is preparing to activate its Alpenglow upgrade on October 21. The decline left SOL near a closely watched support area as investors assessed the scheduled network change.
Solana ETF Outflows Extend to Ten Straight Sessions
US spot Solana ETFs recorded approximately USD 12.7 million in net outflows on October 16, marking their tenth consecutive trading session of withdrawals. Farside Investors data shows that Bitwise's BSOL accounted for the day's entire reported exit. The other funds in its table recorded no net movements.
Across October 12–16, Solana funds lost about USD 25.5 million. However, cumulative net inflows remained around USD 1.55 billion. The recent withdrawals show reduced investment through the funds, but they do not prove ETF activity alone caused SOL's price decline. The broader crypto market had faced selling pressure. Previous reporting tracked weekly Solana ETF withdrawals as the streak developed.
Solana Futures Open Interest Falls 6.59%
Derivatives data from October 17 showed Solana open interest declining 6.59% to approximately USD 895 million. Open interest measures the value of outstanding futures contracts. A decline can occur when traders close positions or exchanges liquidate leveraged trades, reducing overall market exposure.
Solana perpetual futures funding rates were negative in the same period, indicating that short-position holders were paying long-position holders on the affected platforms.
Negative funding can reflect weaker demand for leveraged bullish positions, although it does not establish where prices will move next. The drop in open interest and weak spot prices kept the focus on whether selling would continue.
Alpenglow Targets Faster Solana Settlement on October 21
The Solana Foundation confirmed that Alpenglow is scheduled for October 21, around 15:00 UTC, subject to the network reaching its planned activation point. The upgrade will replace TowerBFT with a new voting system called Votor. It aims to reduce transaction finality from approximately 12.8 seconds to 150 milliseconds.
Finality refers to the point at which the network treats a transaction as irreversible. Under Alpenglow, validators will exchange votes directly and finalize blocks through one or two voting rounds. The Foundation expects existing wallet activity to remain unchanged.
Alpenglow underwent testing on Solana's testnet and devnet in September. However, the 150-millisecond figure is a target, and actual performance on mainnet has yet to be established.
Solana Price Prediction: Can SOL Hold USD 100?
Solana's immediate support area sits near USD 100–101, including the recent low around USD 100.95. A sustained break beneath that zone would place lower levels back in focus, including USD 97 and USD 95. These levels are possible chart reference points, not confirmed future prices.
On the upside, traders are watching USD 105–106 as an initial recovery area, followed by resistance around USD 109–110. Reclaiming those levels would change the short-term chart picture, particularly if ETF flows stabilize. A move above USD 110 would still require sustained buying interest. Meanwhile, the earlier Solana price decline toward USD 100 has kept attention on the support zone.
The October 21 upgrade, subsequent fund-flow reports and futures activity remain the main developments to watch.
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