Solana News Today: DeFi Capital Reallocates to Execution-Driven Projects as Solana's Bearish Signals Deepen

Solana (SOL) faces mounting bearish pressure as its price struggles to breach $130, with technical indicators and market dynamics suggesting a potential decline toward $100. The token currently trades below key moving averages, including the 50-day, 100-day, and 200-day exponential moving averages (EMAs), which slope downward and reinforce a bearish bias. The Moving Average Convergence Divergence (MACD) line, while showing modest positive momentum near zero, remains overshadowed by the Relative Strength Index at 32, indicating oversold conditions but insufficient upside to challenge short-term averages. A breakdown below $140 could validate a bear flag pattern, potentially targeting $99 as a continuation level.

Despite institutional inflows into Solana-based ETFs-recording $11 million in weekly inflows and $510 million in cumulative net inflows]-the broader market remains cautious. Open Interest (OI) in futures contracts has declined from a record $17.1 billion on September 19 to $6.95 billion, signaling waning speculative demand. This divergence between ETF inflows and derivatives market weakness highlights fragmented investor sentiment, with institutional buyers unable to offset broader sell-offs.

Amid Solana's struggles, a new DeFi project, Mutuum Finance (MUTM), is gaining traction as its presale nears completion. With $19 million raised and Phase 6 of its token sale now 95% allocated, MUTM is poised for a final price increase to $0.06 from the current $0.035. The project's dual-layer lending and borrowing ecosystem, combining Peer-to-Contract and Peer-to-Peer models, has attracted steady participation, supported by a 24-hour leaderboard offering $500 in daily rewards to top contributors. Security audits by CertiK and Halborn Security, along with plans for a Layer-2 expansion and stablecoin integration, have bolstered confidence among early-stage investors.

Mutuum's presale structure, with 45.5% of its 4 billion token supply allocated to public sales, has seen 800 million tokens already distributed. The remaining 5% of Phase 6 tokens are expected to sell out quickly, given the 250% price appreciation since its $0.01 launch and the project's Q4 2025 roadmap for a Sepolia testnet launch. This surge in interest contrasts with Solana's bearish technical outlook, as investors pivot to projects with tangible product development and clear utility.

The market's focus on Mutuum reflects broader trends in DeFi, where projects with operational protocols and robust security measures are outpacing speculative assets. With Solana's death cross-a bearish technical pattern-looming and ETF inflows failing to reverse the downtrend, the sector appears to be reallocating capital toward projects with execution-driven roadmaps.