Key Takeaways
- Solana price climbed 4.3% over 24 hours, reclaiming the $80 threshold
- Network transaction volume for February reached an all-time monthly high, exceeding July 2025 figures
- Price action remains confined within a $76–$90 trading corridor spanning more than 30 days
- Institutional investors acquired $540M in US spot Solana ETF holdings during Q4 2024
- Leading purchasers included Electric Capital with $137.8M and Goldman Sachs with $107.4M
Solana (SOL) has reclaimed territory above the $80 price point following a 4.3% upward movement over the last 24-hour period. Daily trading volume surged by 76% simultaneously, climbing to $4 billion in total transactions.
This volume figure accounts for over 8% of SOL’s total circulating market capitalization, suggesting robust accumulation activity occurring at the $80 price threshold.
For more than a month, SOL has remained trapped within a $76 to $90 trading range. Earlier this week, the asset touched $90 before experiencing a sharp 10% decline over several 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 retracement demonstrates persistent selling pressure at the $90 resistance level. However, demand materialized around $80, successfully defending this critical support zone.
Technical indicators show the Relative Strength Index (RSI) recently broke above its 14-period moving average on the 4-hour timeframe. Should the RSI climb past 60, it would confirm strengthening bullish momentum.
The 1-hour chart generated a buy signal during U.S. market hours. Such signals frequently emerge at significant price zones accompanied by heightened volume.
Network Transaction Volume Reaches New Heights
The Solana blockchain handled 882 million transactions throughout the previous week. This figure sits merely 8% beneath the record peak established in early February.
February’s total monthly transaction count surpassed July 2025 volumes, a period when SOL traded at $172. Such elevated network activity traditionally correlates with bullish market conditions.
The disconnect between expanding network utilization and declining price action presents an anomaly. One potential explanation involves widespread liquidation events across meme token platforms such as Pump.fun, artificially inflating transaction metrics without indicating organic user growth.
Weekly active user metrics have also increased, based on Artemis data. However, distinguishing between authentic new activity and liquidation-driven transactions remains challenging.
Institutional Capital Flows $540M Into Solana ETF Products During Q4
American spot Solana ETF products debuted in October 2024 following Bitwise’s SEC clearance on October 28. Since launch, institutional participation has been substantial.
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 participants accumulated over $540 million in Solana ETF exposure throughout Q4 2024.
Electric Capital topped the list with $137.8 million in allocations. Goldman Sachs secured second position with $107.4 million in holdings.
Investment advisory firms represented $270 million of aggregate purchases. Hedge fund managers controlled $186.4 million in positions.
Notable participants included Morgan Stanley and Citadel Advisors. The cumulative $540 million in ETF exposure corresponds to approximately 4.3 million SOL tokens.
Bloomberg’s Eric Balchunas observed that institutions filing 13F forms control 50% of all Solana ETF assets. Combined inflows into US spot Solana ETF products have reached $952 million since their introduction.
