- 1. Solana price fell 3.4% to $85.45 in 24 hours per CoinGecko.
- 2. U.S. Treasury yields hit 4.18%, liquidating $150M SOL futures.
- 3. Network uptime reaches 99.8% after past spam attack fixes.
Solana price fell 3.4% to $85.45 in the 24 hours ended October 10, 2024, 14:00 UTC, CoinGecko data shows. Market capitalization hit $49.2 billion USD.
Federal Reserve Chair Jerome Powell stated on October 7, 2024, that rates stay elevated to combat inflation. Investors sold risk assets like Solana. Bitcoin dropped 1.2% to $62,100 USD in the period, CoinGecko reports.
U.S. Treasury Yields Pressure Solana Price
U.S. 10-year Treasury yields rose to 4.18% on October 10, 2024, U.S. Treasury Department data confirms. Solana Foundation data from October 9, 2024, lists staking APY at 7% annually.
Grayscale Research Director Zach Pandl said on October 9, 2024, "Elevated rates shift capital from volatile assets such as SOL toward fixed-income securities."
Coinglass records $150 million USD in SOL futures liquidations on October 10, 2024. Solana Beach reports average network throughput of 2,500 transactions per second last week, exceeding Ethereum base layer's 15 TPS.
Bitwise Chief Investment Officer Matt Hougan noted on October 8, 2024, "Treasury yields above 4% accelerate outflows from altcoins like Solana, favoring Bitcoin exposure."
Solana Network Resilience After Past Halts
Solana status page logs show four outages in 2021-2022 from spam attacks that generated 400,000 transactions per second and overwhelmed validators.
Solana Labs launched stake-weighted Quality of Service (QoS) in January 2023. Engineering lead Andrew McConnell explained in a September 2024 blog post that QoS prioritizes transactions from high-stake validators to block spam. Network uptime reached 99.8% in Q3 2024.
Solana Proof-of-History Documentation describes the timestamping mechanism supporting 65,000 TPS capacity.
- Metric: TPS (claimed max) · Solana: 65,000 · Ethereum: 15-30 (base layer)
- Metric: 2022 Price Low · Solana: $8.86 USD · Ethereum: $880 USD
- Metric: All-Time High Price · Solana: $259.96 USD · Ethereum: $4,878 USD
CoinGecko historical data and Solana documentation supply October 2024 figures.
Solana DeFi Metrics Decline
DefiLlama platform reports total value locked in Solana DeFi protocols down 5% to $4.2 billion USD on October 10, 2024. Chainalysis 2023 Crypto Crime Report cites $400 million USD lost to bridge hacks in 2022, including Wormhole's $320 million USD breach on February 2, 2022.
VanEck submitted a Solana ETF application to the U.S. SEC on June 27, 2024. Solana Foundation announced Firedancer validator client testing on October 1, 2024.
CoinMarketCap Solana Page lists 24-hour trading volume at $2.8 billion USD, up 20% from the prior day.
Solana Beach data shows validators stake 70% of circulating supply. Treasury rate competition reduced new stakes 2% week-over-week.
Market Correlations Impact Solana Price
Glassnode on-chain data reveals Solana price's 90-day correlation to 10-year Treasury yields at -0.75. CoinGecko metrics confirm Bitcoin dominance at 55%.
Jito Labs dashboard reports maximum extractable value (MEV) bots extracted $50 million USD from Solana in Q3 2024. These bots enhance transaction efficiency but raise validator centralization concerns.
Federal Reserve dot plot from September 18, 2024, projects fed funds rate at 4.4% through 2025. Bitwise research notes $18 billion USD inflows to Bitcoin spot ETFs year-to-date.
Frequently Asked Questions
Why did Solana price drop 3.4%?
CoinGecko data attributes the fall to $85.45 to rising U.S. interest rates. Federal Reserve signals tighter policy prompted risk asset sales.
What cybersecurity risks does Solana face?
Solana status reports note four halts in 2021-2022 from spam attacks. Upgrades like stake-weighted QoS improved uptime to 99.8%.
How do interest rates affect Solana price?
Treasury yields at 4.18% compete with SOL staking yields, per U.S. Treasury and Solana data. Grayscale analyst cites outflows from futures positions.
What network metrics define Solana?
Solana claims 65,000 TPS via Proof-of-History, per docs. 2022 low hit $8.86, all-time high $259.96, CoinGecko historical data.
