On-chain Metrics Show Capital Outflows Hitting Solana
Solana fell about 17% over the week as DeFi TVL dropped to $4.87bn (-9.6% week, -15% month); long-term holders cut net positions by ~0.91M SOL (May 31–June 6) and DEX share fell to 22.6%.
Solana’s native token SOL fell about 17% over the past week, reaching a low near $60 on June 6 before a roughly 13% recovery. The decline coincided with reduced on-chain activity across the network.
Total value locked in Solana DeFi applications, excluding liquid staking, fell to about $4.87 billion for the week ending June 6, down 9.6% from the prior seven days and roughly 15% from 30 days earlier. That figure represents the dollar value of assets deposited in Solana decentralized finance protocols.
Long-term holder activity changed over the same period. The hodler net position change metric, which tracks addresses holding SOL for at least 155 days, fell from roughly 3.27 million SOL on May 31 to about 2.36 million SOL by June 6, a reduction near 0.91 million SOL.
Trading volumes spiked at the height of the selloff and cooled afterward. Centralized exchange volume for SOL rose to $7.03 billion on June 6, then declined in the days following. Solana’s share of decentralized exchange volume stood at about 22.6%, below its 60-day average of 23.3% and down from a near-term high of roughly 30.4% on June 4.
On-chain supply data show a concentration of acquisition cost between $74 and $75. A large number of addresses acquired SOL in that range; holders often transact near their entry prices, which could affect trading if the market returns to that band.
Near-term price movement will reflect changes in DeFi deposits, long-term holder positioning and trading volumes, plus activity around the $74–$75 cost cluster.
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