<h1>Solana faces ETF outflows, declining on-chain metrics, and a major hack, raising risk of a drop toward $100.</h1> Solana faces downward pressure from U.S. ETF net outflows that erode institutional support, material declines in on-chain metrics including active addresses, fees, and total value locked, and a major exchange hack that suspended SOL operations and intensified liquidity stress. Corporate concentration amplified mark-to-market losses. Technically, repeated rejection near $145 and a bearish flag with support around $140 point to a potential decline toward $99-$100 unless network activity, DeFi liquidity, and institutional flows stabilize.