Solana (SOL) has fallen about 20% over the past month even as long-term holders moved more coins onto exchanges, signaling steady selling pressure. According to BeInCrypto, Glassnode’s exchange net position change rose from about 57,336 SOL on June 11 to roughly 1,410,650 SOL by June 25, around 25x higher. Meanwhile, Solana DEX volume’s seven-day average climbed about 39% to around $1.73 billion a day, with activity concentrated in meme coin launchpads and perpetuals. Network fees held near $7.2 million over 24 hours and $200 million across 30 days, while TVL fell about 13% to $4.74 billion.