Solana (SOL) has reclaimed the $100 mark, extending its weekly gains to over 17% as a surge in exchange-traded fund (ETF) inflows and robust on-chain activity bolster investor sentiment. The token traded around $101.14 on Aug. 27, after touching the $102 area during the latest leg up, according to CoinGecko.
SOL's rally from roughly $86 on Aug. 20 has been accompanied by a 32% gain over the past two weeks and a 38% rise over the last month. The recent price action has shifted the technical outlook, with the daily chart showing a breakout from the low-$70s earlier this month.
ETF inflows provide a catalyst
Fresh demand from US spot Solana ETFs has been a key driver. On Aug. 26, these products recorded $9.14 million in net inflows, led by Morgan Stanley's MSOL with $5.51 million and Bitwise's BSOL with $2.65 million. Cumulative net inflows have now reached approximately $1.26 billion, following a record single-day total of $33.5 million on Aug. 24, when BSOL contributed $25 million.
The influx of institutional capital has coincided with a broader debate over Solana's supply dynamics. Two governance proposals under consideration by validators aim to accelerate the reduction of new token issuance and increase the amount of SOL burned through transaction fees. SGP-0002 proposes doubling the annual disinflation rate from 15% to 30%, potentially bringing the network to its 1.5% terminal inflation rate by 2029 instead of 2032. SGP-0003 would alter the fee structure, permanently burning a portion of transaction fees. Estimates suggest these changes could lift daily burns to as high as 9,000 SOL, compared with around 650 SOL currently.
Network activity hits records
Solana's network usage has also surged. According to Solana Compass, the blockchain processed a record 4.2 billion non-vote transactions in July, up 13.5% from June and 91% from December 2025. Average non-vote throughput reached 1,584 transactions per second during the month. Tokenised real-world assets on Solana are approaching $4 billion, and weekly non-vote transactions hit a record 1.318 billion during Aug. 17–23.
The SIMD-0286 upgrade, implemented in late July, increased the mainnet block compute limit from 60 million to 100 million compute units, further enhancing network capacity. Institutional adoption is expanding as well; Galaxy announced on Aug. 25 that its GalaxyOne Crypto Portfolio Line of Credit allows eligible clients to borrow against Bitcoin, Ether, and SOL—including staked SOL—without selling their assets. The revolving credit facility carries an 8.99% APR and a 50% initial loan-to-value ratio, with staked SOL continuing to earn rewards while pledged.
Technical levels to watch
On the daily chart, SOL's Supertrend remains bullish, with support at $86.56. The token is trading nearly 17% above that level, and the Chaikin Money Flow (20-period) has climbed to 0.30, indicating strong buying pressure. Volume expanded during the breakout from the mid-$70s to $100.
The immediate resistance zone is $102–$104, which SOL has tested but not yet cleared on a sustained basis. A breakout above this level, accompanied by continued positive money flow, could open the door to $108 and then the psychological $110 mark. Conversely, failure to clear $102–$104 could bring $100 back into focus. Holding that former resistance as support would preserve the bullish structure, while a drop below could expose the $96 area, where SOL consolidated during its latest advance.
On the 4-hour chart, SOL is trading near its session VWAP of $101.36, with price at $101.47, indicating a balanced battle between buyers and sellers. The Williams %R has recovered to around -19.8 from -70 during the Aug. 26 pullback, now at the edge of overbought territory, suggesting short-term momentum has strengthened. A 4-hour close above $102–$104 would reinforce the case for another push higher, with $108 and $110 as likely targets. If momentum fades, the VWAP area and $100 become immediate supports, followed by $96.
For a broader perspective on the crypto market, see our coverage of Bitcoin's recent stability and the earlier Solana rally. Additionally, RAIN's token burn and Flowra's auction impact highlight ongoing developments in the digital asset space.
This article is for informational purposes only and does not constitute financial advice.
