Key Takeaways
- SOL’s value declined beneath $80 following unsuccessful attempts to maintain levels above $85
- The cryptocurrency reached a bottom at $78.30; critical support zones identified at $75 and $70
- Network processed an unprecedented 10.1 billion transactions during Q1 2026, representing a 50% quarterly increase
- Stablecoin transfer volume on the platform reached $650 billion during February 2026
- Galaxy Digital’s tokenized equity now serves as borrowing collateral within Solana’s DeFi infrastructure through Kamino
The Solana (SOL) token has slipped beneath the $80 mark following a recent downturn that brought prices down from $86.63. This decline came after the price broke through an ascending trend line that had previously provided support around the $81.50 level on the one-hour timeframe.
The asset touched a bottom at $78.30 and is currently positioned below the $80 threshold as well as beneath its 100-hour simple moving average.
Near-term resistance has formed at $80.25, with the next obstacle at $82.50—a level that corresponds with the 50% Fibonacci retracement from the latest downward movement. Bulls would need to reclaim the $85 zone to improve the short-term technical outlook.
Should the current support at $78 fail to hold, traders are eyeing $75 as the subsequent floor. A breakdown beneath that level could expose $70, with further downside risk extending toward $62 if bearish momentum intensifies.
On-Chain Metrics Reach Unprecedented Levels
While price action remains subdued, Solana’s blockchain usage climbed to unprecedented heights during the first quarter of 2026. Total transactions for the three-month period surged to 10.1 billion—a first for the network—based on analytics from Artemis. This represents approximately a 50% increase compared to the fourth quarter of 2025.
According to Token Terminal, the platform concluded March with 2.4 million active addresses engaging with the network.
This transaction surge was primarily fueled by decentralized finance operations and the tokenization of real-world assets. Monthly stablecoin transaction throughput on Solana climbed to $650 billion in February 2026, marking a nearly threefold expansion from the previous month, based on data shared by The Kobeissi Letter.
Corporate adoption has accelerated in tandem with growing network utilization. Digital asset liquidity provider B2C2 designated Solana as its primary blockchain for enterprise-grade stablecoin settlement operations. CEO Thomas Restout commented: “Solana has earned its place as fundamental financial infrastructure… This is where settlement is heading.”
NASDAQ-Listed Firm Pioneers Equity Tokenization on Solana
Galaxy Digital achieved a milestone as the inaugural NASDAQ-listed entity to tokenize company shares on a public blockchain infrastructure. Through a collaboration with Superstate and the Kamino lending protocol, qualified participants can now leverage these tokenized GLXY shares to secure stablecoin loans including USDC.
Staking is now live on @galaxyoneapp.
Powered by $GLXY institutional validator infrastructure, one of the largest Solana validator operations globally, eligible clients can now stake $SOL and earn up to an estimated 6.50% in variable staking rewards with no platform commission… pic.twitter.com/Njdu01sH4N
— Galaxy (@galaxyhq) March 31, 2026
With more than $2 billion in Total Value Locked, Kamino represents the dominant lending platform within Solana’s ecosystem.
This innovation enables shareholders to unlock liquidity from their holdings without triggering taxable sale events. The functionality is accessible to qualified non-US participants via the Superstate Market integration within Kamino’s platform.
SOL is currently exchanging hands below $80, with critical support established at $75 and resistance positioned at $82.50.
