Solana Company Maps Out ‘Pacific Backbone’ Roadmap to Boost Asia-Pacific Infrastructure

first published 2026-02-23T11:13:25Z

SOL fell about 6% in 24 hours to a low near $77, dropping below the key $80 level and erasing roughly 53% YTD from its 2026 high of $148.21. The sell-off triggered $21.31M in liquidations (~$19.48M from longs). On-chain tracker Lookonchain flagged a whale (Whale31o3cj) selling 50,000 SOL (~$3.91M) at $78.27 and swapping 44,805 SOL (~$3.5M) for 676.27 XAUT. SOL also broke below Wave (5) support near $127; the next key support is around $70, while reclaiming $80 would invalidate the bearish view.

AI Analysis

The story cites concrete, near-term market moves: SOL fell ~6% to ~$77, triggered $21.31M in liquidations (≈$19.48M longs), and a whale sold 50,000 SOL (~$3.91M) and swapped 44,805 SOL for XAUT. The break below Wave (5) support near $127 and a stated next support at ~$70 support a bearish near-term outlook; reclaiming $80 would negate it.

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