Solana is heading toward its 9th consecutive red monthly close.

Nine months of red. Back to back to back without a single green month in between.

For context, Solana peaked near $300 at its all time high. It is now trading around $70, a drop of over 75% from the top while most of the market has been searching for a bottom.

Nine consecutive red monthly closes is the kind of performance that breaks conviction. Most people who bought anywhere in the last year and a half are underwater. The ones who bought near the top are sitting on devastating losses.

The whale who just bought 235,000 SOL at $70 for $16.55 million is either going to look like a genius or a cautionary tale depending on whether month 10 finally breaks the streak.