Solana’s price has dropped by $200 million after the Drift protocol hack

The Solana coin (SOL) is suffering from heavy bleeding, as its price reached $78, which shows a decrease of 6% during the day. This decline adds to the weekly loss of 11%, which is the biggest decline among major digital currencies, and this came after the negative expectations that appeared after Trump’s statement about the war in Iran.

Drift Protocol, one of Solana’s most popular online trading platforms, confirmed that it was compromised today. The attacker gained unauthorized access through a vulnerability that targets “standard nonces,” which led to a quick overhaul of the Drift Security Council’s monitoring capabilities.

🚨 WATCH: Drift Protocol on Solana estimated to have $200M+ leverage, and about 980,000 SOL released in the protocol according to on-chain analysis.

– MSB Intel (@MSBIntel) April 1, 2026

Losses are estimated at more than $200 million, making the hack one of the biggest in Solana’s ecosystem from 2022. The platform confirmed the breach directly, while the data on the Internet shows an increase in the income of the entire Internet.

Can Solana’s price return above $85 despite negative expectations?

SOL is at a technical risk, where the $78 support area is an attractive area in the past for buyers, but now it is at risk of a price reversal if buyers fail to recover quickly. Resistance is fixed at $ 85, the highest level recorded last week, while the historical record of $ 293 remains 73% away from current levels.

Trading volumes saw a significant increase, with the 24-hour trading volume reaching $5.2 billion, indicating panic selling. Lows followed by high sales volumes often lead to violence, but only after the commitment period ends. The total closed value (TVL) on Solana fell to $6.544 billion, with major protocols such as Jito (-4.3%), Raydium (-4.33%), and Sanctum (-3.83%) recording outflows. Trading volumes on the central exchange (DEX) have also dropped by 40% since January, indicating the current strain on Solana’s network.

For Solana owners, the best scenario is for BTC to stabilize above $65,000, Drift Protocol uses a reliable recovery strategy, and SOL recovers to $85, opening the way to $95-100 within two weeks. If the support of $ 78 is broken and the volume of trading is exceeded, the next considered bottom is close to $ 65, a level that can push the annual loss of SOL to more than 50%.

Maxi Doge looks for an early opportunity with Solana to try the big levels

When the top 10 stocks fall 13% per week, and the main DeFi platform loses $ 200 million overnight, the question is not whether confidence has been shaken, but where the capital is going. Some traders have found a solution in the early stages of pre-sale, where the entry prices are much lower than the main problems of the market.

The Maxi Doge project ($MAXI) is one of the pre-sold projects that attract this attention. The project is built on the Ethereum network as a meme token (ERC-20), and it relies heavily on the character of a 240-pound bulldog, inspired by the culture of sports including additional sales, and the tagline “Don’t miss a leg day, don’t miss a wave.”

The mechanics behind this meme coin are based on a clear formula: a proprietary trading competition with board prizes, a “Maxi Fund” dedicated to mutual funds and partnerships, and a dynamic strategy that rewards 66% APY to those who commit to carrying money.

The current price is $0.0002811, and more than $4.7 million has been raised so far.

This article does not provide financial advice. Cryptocurrency investments involve significant risks. Always do your research before making any financial decision.