--- title: "Why did Solana drop 6.6% on October 29, 2026?" language: en canonical: "https://whycoinmoves.com/en/coins/solana/2026-10-29" date: 2026-10-29 --- # Why did Solana drop 6.6% on October 29, 2026? A report of a large SOL sale and a Binance withdrawal pause could have added selling pressure, but the available evidence does not establish that either caused the fall. The Polygon payments announcement was positive, not an obvious bearish trigger. On October 29, 2026 (UTC), SOL went from about $102.45 to $95.63 (-6.63%) on OKX · USDT, trading between $94.92 and $103.18. SOL largely moved with the market. This is SOL's largest 24-hour fall in 29 days. 1 SOL report is on the timeline below: 1 published before the largest hourly move and 0 during or after it. Timing alone does not show what caused the move. ## What may be driving the move A report of a large SOL sale and a Binance withdrawal pause could have added selling pressure, but the available evidence does not establish that either caused the fall. The Polygon payments announcement was positive, not an obvious bearish trigger. - trigger · low: At 14:54 UTC, a report said Binance had paused Solana withdrawals after a hack. That concern could have weighed on sentiment, but the report does not show that it prompted selling. Evidence gap: No link to SOL sales or verified timing of the pause; the report describes withdrawals, not a Solana network failure. Sources: [S11]() - trigger · low: At 15:51 UTC, a report described a whale selling $104.3 million in SOL over five days. If sales continued during the decline, they could have added pressure. Evidence gap: The five-day selling period may predate the move, and the report does not establish executions or continued selling during it. Derivatives data do not establish directional positioning or liquidations. Sources: [S10]() Open question: Did the reported sale or withdrawal pause lead to actual SOL selling during the decline? Timing and execution evidence are unavailable. Analysis generated: 2026-10-30T01:59:15.000Z; evidence window: 2026-10-29T01:58:57.000Z → 2026-10-30T01:58:57.000Z. - Day open / close: $102.45 → $95.63 (24 hourly candles, OKX · USDT) - Day range: $94.92 – $103.18 - Versus Bitcoin: -6.63% / BTC -4.11%; About -0.7 points of the move is its own after allowing for Bitcoin - Versus the past month: Its largest 24h fall in 29 days; -6.63% in the 24 hours to Oct 30, 2026, 00:00 UTC, 5.2× a typical day (1.3%). - 30-day range: 22.7% below the high · 0.7% above the low; From hourly highs and lows on the same venue - Other tracked coins: 22 of 24 others also fell 2.2% or more; 1 rose that much - 24h volume: 1.8×; of its prior 30-day daily average - Perpetual swap: funding near zero · open interest rising; OKX perpetual swap SOL-USDT-SWAP Computed from OKX · USDT hourly candles for the 24 hours to Oct 30, 2026, 00:00 UTC. ## SOL timeline around October 29, 2026 Largest closed hourly move: -3.65%, Oct 29, 2026, 20:00–21:00 (UTC). - Oct 29, 2026, 13:01 UTC (before the largest hourly move): [Polygon brings its stablecoin payments stack to Solana]() · Decrypt — Polygon Labs said it is extending its Open Money Stack stablecoin payments infrastructure to Solana, giving businesses there a single integration for bank funding, embedded wallets, cross-chain transfers and global payouts, Decrypt… Prices, market readings and reports are shown side by side; timing alone does not show what caused a move. ## Same-day movers · 2026-10-29 (UTC) - [Quack AI (Q) -29.02%]() - [Pons (PONS) -21.29%]() - [Ethena (ENA) -16.29%]() - [NEAR Protocol (NEAR) -14.24%]() - [Raydium (RAY) -12.52%]() [Solana (SOL) price and news]() [Methods and limitations]()