Amid escalating geopolitical risks and widespread risk-off sentiment in global markets, the cryptocurrency market is facing sharp volatility once again. Solana (SOL), one of the standout mainstream blockchain assets recently, has not been spared from this wave of turbulence, with its daily decline at one point approaching 10%.

The trigger for this event stems from heightened tensions in the Middle East. Israel’s renewed airstrikes on Iran sparked a global rush for safe-haven assets like gold and oil. As gold and oil prices surged, risk assets broadly declined, with the cryptocurrency market hit particularly hard. On June 11, SOL had rebounded to $167 but soon fell below the $145 mark, currently recovering to $156.

On-chain data shows that Bitcoin briefly dropped below $103,000 on Friday morning, triggering over $400 million in long position liquidations. Solana followed with a roughly 9.6% drop, with related liquidation volumes reaching $52 million, ranking third behind BTC and ETH.

Solid Fundamentals, Unshaken Infrastructure

Despite the price volatility, Solana’s ecosystem fundamentals remain robust. Daily transaction volume has stayed steady above 80 million, with on-chain throughput and application revenue holding firm between $40 million and $70 million. The liquid staking token JitoSOL is nearing a $7 billion market cap, and validator revenue has not been significantly impacted, indicating that grassroots users and infrastructure continue to function steadily. Additionally, the staking ratio remains at 65.4%, with net activated stakes surpassing net deactivated stakes, further evidencing sustained long-term user confidence in Solana.

Next-Gen Meta-Aggregators Stabilize Market Volatility

Meta-aggregators like Titan and KaminoSwap are quietly rising. Leveraging off-chain sources such as Pyth’s Express Relay for better routing, these platforms have improved execution efficiency even as trading volumes decline. In the context of slowing transaction volumes, these platforms have instead strengthened execution efficiency and strategy transparency, emerging as key stabilizing forces in the market.

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