Key Highlights
- SOL price surged 4.3% over the past day, reclaiming the $80 threshold
- Solana’s February transaction activity reached all-time monthly highs, exceeding July 2025 metrics
- Price action remains confined within a $76–$90 trading corridor for more than 30 days
- Major financial institutions accumulated $540M in US spot Solana ETF holdings during Q4 2024
- Electric Capital and Goldman Sachs dominated institutional purchases with $137.8M and $107.4M respectively
Solana (SOL) has successfully reclaimed the $80 price point following a 4.3% rally over the last 24 hours. During this timeframe, trading volumes exploded by 76%, climbing to $4 billion.
This volume surge accounts for over 8% of SOL’s total circulating market capitalization, indicating substantial accumulation occurring at the $80 price zone.
For more than 30 days, SOL has remained trapped within a $76 to $90 trading range. Earlier this week, the asset tested $90 resistance before experiencing a sharp 10%+ correction 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 rapid retracement confirms significant selling pressure exists at the $90 threshold. However, demand materialized around $80, successfully defending this support level.
The Relative Strength Index (RSI) recently crossed above its 14-period moving average on the 4-hour timeframe. A breakthrough above 60 on the RSI would confirm strengthening bullish momentum.
During the U.S. trading session, a buy signal emerged on the 1-hour chart. These signals typically materialize at critical support zones accompanied by elevated volume levels.
Network Transactions Reach New Monthly Peak
Last week alone, Solana’s network processed 882 million transactions. This figure sits merely 8% beneath the all-time weekly record established in early February.
When examining monthly metrics, February’s transaction volume surpassed July 2025 numbers—a period when SOL traded at $172. Such elevated network activity is characteristic of bullish market cycles.
The divergence between increasing network utilization and declining price action presents an anomaly. Mass liquidation events across meme token platforms such as Pump.fun could inflate transaction counts without reflecting authentic user growth.
Weekly active user metrics have also climbed, based on Artemis analytics. Whether this uptick represents genuine adoption or liquidation-related activity remains ambiguous.
Institutional Capital Floods Solana ETFs With $540M in Q4
US spot Solana ETF products debuted in October 2024 following Bitwise’s SEC approval on October 28. Since inception, institutional participation has proven robust.
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’s research, the top 30 institutional investors acquired over $540 million in Solana ETF exposure throughout Q4 2024.
Electric Capital topped the leaderboard with $137.8 million in holdings. Goldman Sachs secured second position with $107.4 million in exposure.
Registered investment advisers represented $270 million of aggregate holdings. Hedge fund managers controlled $186.4 million in positions.
Notable participants include Morgan Stanley and Citadel Advisors. Collectively, the $540 million in institutional ETF positions corresponds to approximately 4.3 million SOL tokens.
Bloomberg’s Eric Balchunas highlighted that institutions filing 13F reports control 50% of all Solana ETF assets. Since the October launch, cumulative inflows into US spot Solana ETFs have reached $952 million.
