TLDR
- SOL climbed 4.3% over the last day, reclaiming the $80 price point
- Solana’s February transaction count reached an all-time monthly high, exceeding July 2025 figures
- The token remains confined within a $76–$90 trading corridor for more than 30 days
- Institutional buyers accumulated $540M in US-listed Solana spot ETFs during Q4 2024
- Electric Capital and Goldman Sachs led institutional purchases with $137.8M and $107.4M respectively
Solana (SOL) has reclaimed territory above the $80 threshold following a 4.3% price increase over the past day. Concurrent with this rally, trading volume surged 76% to hit $4 billion.
This volume figure accounts for over 8% of SOL’s total circulating market capitalization, suggesting robust accumulation occurring around the $80 price zone.
For more than 30 days, SOL has oscillated within a defined range bounded by $76 on the downside and $90 on the upside. Earlier this week, the token tested $90 before retreating over 10% within days.
$SOL is breaking out of an Ascending Triangle on the 4h chart 👀
I could see it go to $98-103 in the next week or two
Just a 200WMA retest before further decline 📉 pic.twitter.com/Rg5r9A4Fj5
— CryptoBullet (@CryptoBullet1) March 4, 2026
This recent rejection confirms selling pressure exists at the $90 mark. However, demand materialized around $80, preserving this critical support level.
Technical indicators show the Relative Strength Index (RSI) recently moved above its 14-period moving average on the 4-hour timeframe. Should RSI climb beyond 60, it would confirm strengthening bullish momentum.
During the American trading session, a buy signal materialized on the 1-hour chart. These signals typically emerge at significant price zones accompanied by elevated trading volume.
Network Transactions Reach Monthly All-Time High
The Solana network handled 882 million transactions over the past week. This figure stands just 8% beneath the all-time peak recorded in early February.
When comparing monthly data, February’s transaction volume surpassed July 2025 figures, a period when SOL traded at $172. Such elevated network activity historically correlates with bullish market phases.
The divergence between increasing network utilization and declining token price presents an anomaly. One hypothesis suggests widespread liquidations on meme token platforms such as Pump.fun artificially inflate transaction counts without indicating genuine growth in user adoption.
Artemis data confirms weekly active user metrics have also increased. Whether this reflects authentic user engagement or liquidation-related activity remains an open question.
Institutional Capital Flows $540M Into Solana ETFs During Q4
US-listed spot Solana ETFs debuted in October 2024 following Bitwise’s SEC approval on October 28. Since inception, these products have attracted significant institutional capital.
Who were the buyers of those Solana ETFs? The top of the list is a who’s who of market makers and crypto investment firms. https://t.co/NHu9ul4nt1 pic.twitter.com/aFI0CLubB1
— James Seyffart (@JSeyff) March 9, 2026
According to Bloomberg ETF analyst James Seyffart, the 30 largest institutional holders accumulated over $540 million in Solana ETF positions throughout Q4 2024.
Electric Capital topped the list with $137.8 million in exposure. Goldman Sachs followed with $107.4 million in holdings.
Registered investment advisers represented $270 million of total purchases. Hedge fund managers contributed $186.4 million to the tally.
Notable participants include Morgan Stanley and Citadel Advisors. Collectively, the $540 million in ETF positions corresponds to approximately 4.3 million SOL tokens.
Bloomberg’s Eric Balchunas highlighted that institutions required to file 13F forms control 50% of all Solana ETF assets. Since launching, cumulative inflows into US spot Solana ETFs have reached $952 million.
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