Solana’s sun went into grimwalls as Monday’s wide crypto market fall the token for the high-speed blockchain diving at high speed, as much as 8% to $ 124.

That’s less than the realized $ 134 price for the first time since May 2022, according to Glassnode data. The realized price is the average cost basis for all coins that have been moved and the current values ​​mean that the average holder is underwater, a bearish signal that can trigger panic sales or capitulation.

The drop comes as Solana’s validators debate a proposal called SIMD-0228, which can cut down on the network’s 4.7% annual inflation rate with 80% to approx. 1.5% over time.

Unlike the market price, which swings with exchange actions, a realized price is a cost base.

Price action forms a falling channel with resistance between $ 134, previously a support level and $ 130 and support for $ 120 and $ 115. The trend remains bearish, but if $ 120 holder and $ 128 breaks with volume, a rebound for $ 134 is possible, powered by dip buyers.