SOLZ is trading 3% down today, extending its decline from yesterday's $9.56 close as macro pressures and broader crypto weakness outweigh recent ETF inflows.
- Bitcoin and Ethereum are down 1.41% and 1.14% respectively, as persistent CPI (3.8%) and PPI data fuel hawkish Fed expectations.
- Middle East tensions have driven oil prices to $108/barrel, further contributing to a broader risk-off sentiment across crypto-related assets.
- The downward move persists despite a seven-day streak of Solana ETF inflows, which saw $19M added on May 12.