Solana Just Had a Disappointing Month. Is It Still a Buy?

For five straight years, July was a month that tended to close in the green for Solana (CRYPTO: SOL). The coin's median performance in July is a gain of 17.3%.

But this July, that pattern broke down, much to holders' chagrin. The coin started July at $73.53, and it ended the month down by 1% from that mark. That pushed Solana's losing streak to 10 consecutive down months, which is unprecedented for the chain. So, is it still worth buying, or is this broken seasonality trend indicative of deeper problems?

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Why seasonality didn't pull through this time around

As unsatisfying as an answer as it may be, the broken seasonality this time around is likely a result of Solana's recent circumstances rather than any new or incoming bearish conditions.

October 2025's crypto flash crash initiated a long and uninterrupted grind downward for nine straight months of the bear market so far. Solana had nothing to do with the causes of the crash itself, but the point is that when July arrived, sentiment was just barely starting to recover from the extreme (and largely justified) pessimism of the prior months. The macro setup was hostile, too, with the Federal Reserve holding rates steady and the Israel-U.S. war against Iran sending energy markets (and thus inflation expectations) haywire.

But Solana wasn't entirely faultless for its decline.

Meme coins, once the chain's biggest draw for outside users and their capital, have seen their trading volumes collapse from their peaks over the prior two years, and the Q1 2025 Official Trump meme coin implosion left many newcomers to the chain with financial scars from their first experience there. As if that weren't enough, one of the network's meme coin launch pads, Pump.fun got hit with a class action lawsuit that alleges unfair practices toward investors, and Solana's most central governance and tech development organizations are named in the suit as well.

Investors are missing a story here

Prices often move in direct contradiction to financial fundamentals. And while Solana's price was falling, many of those fundamentals were improving beneath the surface.

Solana handled around 96% of all on-chain equity trading in the second quarter of 2026, with its tokenized stock volume hitting $4.8 billion, a massive increase versus $775 million across all of the second half of 2025. At the same time, the chain's total tokenized real-world assets (RWAs) more than doubled, leading to huge capital inflows that the coin's price failed to reflect.

Therefore, if you already hold Solana, the case for continuing to hold it is a lot stronger than the price action might imply. In fact, its disrupted seasonality pattern shouldn't even factor into your decision. So long as it continues to be a fast and cheap-to-use chain, and so long as it continues to use those properties to attract more tokenized assets to its network, it's still worth buying.

Alex Carchidi has positions in Solana. The Motley Fool has positions in and recommends Solana. The Motley Fool has a disclosure policy.