End of Year Crypto Market: Solana Faces Pressure as Utility-Based Assets Gain Attention

The cryptocurrency market enters a consolidation phase at the end of this year with significant pressure on speculative assets. Solana, which previously was a market favorite, is now facing challenges with its price continuously declining, reflecting a shift in investor sentiment towards more stable, utility-based assets.

Declining Momentum in the Layer-1 Market

Solana’s sustained rally has finally come to an end. After weeks of maintaining support around $135, the token dropped sharply on high trading volume. Recent data shows SOL trading at around $138.77, up 2.93% in the past 24 hours, but the long-term trend indicates structural weakness.

This fragility is triggered by various factors. The funding rate has turned negative for the first time in several months, signaling a shift in power towards sellers. The next technical support is estimated to be closer to $115 compared to the previous resistance level at $130. Analysts warn that forced liquidations could occur if the price continues to fall.

Although the Solana network remains fundamentally strong — developer activity remains high and the ecosystem continues to grow — early adoption has plateaued. Network fees, which previously indicated strength, have fallen back to pre-rally levels, reflecting a decrease in active user activity.

Investors Shift to Defensive Strategies

In an uncertain market environment, investor behavior has changed significantly. Short-term speculation is losing its enthusiasm, and more investors are seeking assets with real utility and predictable economic models.

Projects offering functional products and revenue generation have shown better resilience. For example, integrated banking platforms that connect crypto, stablecoins, and fiat within a single interface have attracted attention due to their operational models, which differ from market speculation.

Token buyback and burn systems have helped create a unique supply-demand dynamic. With fixed supply caps, investors can more easily estimate token dilution, providing a stronger cushion against sudden market volatility.

Pre-sale Data and Project Momentum

For projects focused on real utility, crypto pre-sales have demonstrated stable performance. For instance, one platform raised over $2.6 million in its pre-sale, with more than 150 million tokens sold at current prices ranging from $0.0383 to $0.0399.

Early programmed price increases in pre-sales have helped build investor confidence by promising initial listing prices at around $0.14, offering significant appreciation potential. This approach differs from other sector markets that often experience random price swings.

Contrast Between Speculative and Utility-Based Assets

The comparison between traditional Layer-1 networks like Solana and business-oriented projects is becoming clearer. Solana faces resistance in maintaining speculative interest with its momentum continuing to decline, while alternatives offering functional products and clear revenue streams continue to show growth.

Reduced liquidity in Solana, combined with tightening risk conditions, exacerbates technical weaknesses. A recovery rally may occur, but each upward attempt now feels more like distribution rather than genuine recovery.

Conversely, projects driven by actual usage rather than hype show a different growth trajectory. Deflationary designs, active user bases, and practically functional applications create a stronger foundation for sustained growth.

Conclusion: Market Paradigm Shift

The end of this year marks a paradigm shift in crypto investor preferences. From pure speculation, the market is now moving toward assets that offer real economic functions and sustainable business models. While Solana remains a top-tier network, it now faces stronger gravity than before.

In this context, assets demonstrating organic growth through usage and utility are increasingly valued by investors seeking protection from extreme market volatility. This trend is expected to continue until market sentiment improves and liquidity returns to normal levels.