Solana Price Drops 3% Despite Samsung USDC Partnership

Solana price declined 3.35% to $113.76 over the past 24 hours as widespread selling pressure weighed on the cryptocurrency market. The decline came despite news that Samsung Wallet plans to introduce cross-border USDC transfers powered by Solana later this month.

The broader crypto market capitalization dropped 1.45% to $2.8 trillion amid weakening institutional demand and ETF outflows. Bitcoin slipped below $83,000, while Ethereum traded near $2,533 and XRP fell below $1.40.

Samsung is partnering with Solana to enable international USDC transfers through Samsung Wallet for eligible Galaxy users in the United States. The service is scheduled to launch during the final week of October 2026.

The integration could reach approximately 82 million compatible Galaxy devices, allowing users to send stablecoins internationally without installing separate cryptocurrency applications.

Recipients in more than 60 countries will reportedly be able to receive funds directly into supported bank accounts in their local currencies. Further expansion will depend on regulatory approvals and market requirements.

Despite the partnership announcement, Solana price remains under bearish pressure after losing the $115 support level on October 8. SOL previously traded near $120 following a September recovery from below $100 to approximately $124.

Technical indicators suggest continued weakness. Solana's relative strength index (RSI) dropped to 25.63, indicating oversold conditions, while the Chaikin Money Flow (CMF) reading of -0.21 reflected persistent selling pressure.

Immediate Solana support stands near $112. A decisive four-hour close below this level could trigger further losses toward $110, followed by $108.

Conversely, reclaiming $115 could improve short-term sentiment and open the possibility of a recovery toward the $120 resistance level.

Meanwhile, Solana exchange-traded funds recorded $4.8 million in net outflows on October 7, according to SoSoValue. Bitwise's BSOL accounted for the withdrawals, while other listed funds reported no net flows.

Total Solana ETF assets stood at $1.85 billion, representing approximately 2.71% of SOL's market capitalization. Trading volume reached $84.65 million, while cumulative net inflows remained at $1.59 billion.

BSOL continued to dominate the sector with approximately $1.29 billion in assets.

The Samsung partnership highlights Solana's expanding role in global payments, but near-term price movements remain dependent on broader market sentiment, institutional flows, and whether SOL can defend its critical support levels.