Solana

Solana (SOL) traded around $78, falling nearly 6% on the day and extending an 11% weekly decline. Drift Protocol said it suffered an exploit, while an on-chain monitor claimed nearly 980,000 SOL was drained and losses exceeded $200 million. The move leaves traders watching whether SOL can reclaim $85 or risks breaking below the $78 support zone.

Bitcoin and ether ETFs posted a second consecutive session of net inflows, with bitcoin funds taking in $117.63 million and ether funds adding $31.17 million. Bitcoin ETF trading volume reached $3.11 billion with net assets at $87.46 billion, while ether ETF volume hit $1.03 billion and net assets rose to $11.98 billion. In contrast, XRP and solana ETFs saw no trading activity, ending with net assets of $943.73 million and $805.84 million, respectively.

Stablecoin transaction volume on Solana climbed to a record $650 billion in February and was described as tracking toward a comparable jump in March. Over the same period, Solana DEX activity cooled, with last week’s volume at $11.42 billion versus Ethereum’s $7.25 billion, while one analyst projected a potential move to $360 with support and resistance levels outlined.

Drift Protocol has suspended deposits and withdrawals after confirming an active attack and disclosing the incident on 1 April. Early on-chain estimates put potential losses near $285m, spanning assets such as $71.4m in USDC and $159.3m in JLP. The team said it is working with security firms, bridges, and exchanges, while the alleged exploit method remains unconfirmed.

Drift Protocol, a Solana-based decentralized exchange, said it is under an active attack and halted deposits and withdrawals, emphasizing it was not an April Fools' joke. On-chain watchers reported that more than $270 million in assets were suspiciously drained and routed to a single wallet. The incident is being handled with multiple security firms, bridges, and exchanges, the protocol said.

Solana recorded 10.1 billion transactions in the first quarter of 2026, marking the first time the network has crossed 10 billion in a single quarter. The figure was posted on April 1 by Artemis, and it implies roughly a 50% increase from Q4 2025.

Drift Protocol said it was investigating unusual activity on April 1, 2026, after onchain trackers estimated $200 million or more was drained from protocol accounts. The outflows were traced to Solana wallet HkGz4KmoZ7Zmk7HN6ndJ31UJ1qZ2qgwQxgVqQwovpZES, while DRIFT fell from about $0.072 to $0.055 amid uncertainty.

Solana and Ethereum set new transaction records in Q1 2026, underscoring two different approaches to network activity. Solana processed 10.1 billion transactions, while Ethereum logged just over 200 million, pointing to scale-led throughput on one chain and value-focused settlement on the other.

Alameda Research has unstaked more than 1,695 ETH valued at over $3.56 million, after selling more than $17 million in SOL three weeks earlier. With reported holdings of about $300 million in SOL, $35 million in Bitcoin, and $20 million in USDT, traders are watching for potential near-term sell pressure on Ethereum and Solana. ETH is hovering under a long-standing resistance while SOL is range-bound, with key levels highlighted at $2,100 for ETH and $76 support for SOL.

Solana's SOL is consolidating near the $80 area, staying below the $88 zone while facing key resistance at $87.65. If that level breaks, the next upside targets cited are $97.56 and $106.95, while the main downside support sits at $75.85–$80.00 with a further level at $63.72. The network's fundamentals remain strong, including over $2 billion in tokenized real-world assets and broader access via institutional staking and brokerage services.