U.S. midterm elections risk Solana: Will 5% SOL ETF outflows create more losses?

U.S. midterm election risk sentiment is weighing on Solana, with SOL spot ETFs recording roughly 5% in net outflows that have added selling pressure to the token. The outflows coincide with declining network activity on the Solana chain, a combination that historically has preceded further losses for SOL and underscores how dependent the asset remains on U.S. investor flows. Analysts point to historical patterns showing that periods of capital outflows paired with falling on-chain activity tend to amplify downside moves, making the current setup a notable risk window. Market participants are watching whether ETF outflows accelerate or stabilize after the midterms, and whether Solana's network activity recovers, as either development could determine the token's near-term direction.