Solana’s SOL is down 31% in 2026 even as network metrics firm up. According to DeFiLlama, DeFi TVL hit a record $80 million on stablecoin inflows, while Dune Analytics shows Solana meme launchpads handling nearly $100 million daily and 30,000 new tokens per day this week. The mix complicates the undervaluation case.

Truth Social, U.S. President Donald Trump's media platform, filed with the SEC for two crypto ETFs—one focused on Cronos (CRO) and another spanning Bitcoin and Ethereum with an ETH staking element—briefly lifting prices as BTC rose 4% and ETH gained 5.2%. Yet fund flows remain weak, with nearly $2.3 billion in ETF outflows over two consecutive months and products like IBIT down 21.5% in 2026, keeping caution high.

Arbitrum’s ARB token has fallen about 40% in 2026 after losing over 70% in 2025, with its price dropping below $0.20 and all holders currently at a loss. At the same time, stablecoin capitalization on the network has risen by nearly $65 million and ETHZilla is rolling out a real-world asset jet-engine income token on Arbitrum, positioning the chain to tap growing RWA demand despite weak TVL.

According to CoinMarketCap, the memecoin sector has shed nearly $8 billion in 2026, with PEPE down 47% over the period and 40% this month. AMBCrypto notes PEPE has revisited its early April 2024 support near $0.0000035, while Open Interest rose 15% to $221 million and funding flipped negative, a backdrop that could fuel a short squeeze toward $0.0000065.

On 11 February, Ethereum faced two major bearish headlines, including a $72.5 million loss on a leveraged long and a 64 ETH gas fee transaction, yet its price stayed within a weekly consolidation range. At the same time, exchange balances fell by nearly 100k ETH and over 4.1 million ETH queued for staking, while daily transactions held near 2.8 million with gas fees under 0.2 Gwei. This combination of declining liquid supply and steady on-chain activity suggests that recent fear may be absorbed by bullish participants, turning the current range into a potential dip-buying setup.

In the first two months of 2026, RLUSD's market cap reached $1.5 billion, and Binance completed integration on the XRP Ledger to broaden access. According to Token Terminal, RLUSD's supply on Ethereum climbed to $1.2 billion, while the article highlights moves by Tether and Circle that set up a more competitive stablecoin landscape.

Analysts warn a March rate cut could knock the U.S. Dollar Index down another 10%, while the gauge is already off 1.4% in early 2026 and fell 9.4% in 2025. With inflation cooling on Truflation and implied odds for a March move rising to 21.2% from 9.4%, a weaker dollar may collide with debt-driven liquidity stress that has coincided with a 24% crypto drawdown this year.

On 06 February, after three sessions of outflows, crypto markets saw a single-day swing above 10%, and Solana began outperforming Ethereum on several metrics. Solana’s perpetuals volume reached $12.1 billion versus Ethereum’s $9.6 billion, while its stablecoin market rose 8.5% versus 0.2%. The SOL/ETH ratio hovered near 0.04, a historically important area.

On 05 February, heavily leveraged positions linked to BlackRock’s IBIT ETF were forced to unwind, sending turnover to $10.7 billion and options premiums to $900 million as Bitcoin’s drawdown reached about 35%. Arthur Hayes said banks hedging IBIT-linked notes exacerbated selling, while IBIT’s first $200+ million inflow in nearly a month and a 65% jump in Coinbase Premium Index signaled possible stabilization.