TLDR
- SOL surged 4.3% over the last 24 hours, reclaiming the $80 price level
- Transaction volumes on Solana during February reached a new monthly peak, exceeding July 2025 activity
- The price continues to consolidate within a $76–$90 channel that has held for over a month
- Institutional investors accumulated $540M in US spot Solana ETFs during the fourth quarter of 2024
- Electric Capital purchased $137.8M worth of ETFs while Goldman Sachs acquired $107.4M
Solana (SOL) has climbed back above the $80 mark following a 4.3% price increase over the past 24 hours. During this same timeframe, trading volume surged 76% to reach $4 billion.
This volume level accounts for over 8% of SOL’s circulating market capitalization, indicating robust demand at the $80 support zone.
The cryptocurrency has remained confined within a $76 to $90 trading range throughout the past month. Earlier this week, the price reached $90 before experiencing a pullback exceeding 10% within just 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 retreat demonstrates that sellers become active at the $90 resistance level. Meanwhile, buyers have consistently defended the $80 support zone, preventing further downside.
The Relative Strength Index (RSI) recently broke above its 14-period moving average on the 4-hour timeframe. A push beyond the 60 threshold on the RSI would confirm strengthening bullish momentum.
During the American trading hours, a buy signal emerged on the 1-hour chart. Such signals typically materialize at significant price zones accompanied by elevated volume.
Transaction Volumes Reach New Monthly Peak
The Solana network handled 882 million transactions during the previous week. This figure sits just 8% beneath the all-time record established in early February.
When comparing monthly totals, February’s transaction volume surpassed the numbers recorded in July 2025, a period when SOL traded at $172. This level of blockchain activity generally appears during bullish market phases.
The divergence between increasing network utilization and declining price action creates an interesting dynamic. Mass liquidations occurring on meme coin platforms such as Pump.fun could explain this phenomenon, as they generate high transaction counts without necessarily indicating fresh user adoption.
Data from Artemis indicates that weekly active users have increased as well. Whether this growth stems from genuine new engagement or liquidation-related transfers remains an open question.
Institutional Investors Acquired $540M in Solana ETFs During Q4
US spot Solana ETFs began trading in October 2024 following Bitwise’s SEC approval on October 28. Since the launch, institutional participation has remained 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 data compiled by Bloomberg ETF analyst James Seyffart, the 30 largest institutional holders accumulated more than $540 million in Solana ETFs throughout Q4 2024.
Electric Capital topped the list with $137.8 million in holdings. Goldman Sachs secured the second position with $107.4 million in exposure.
Investment advisory firms represented $270 million of the aggregate total. Hedge fund managers controlled $186.4 million in positions.
Morgan Stanley and Citadel Advisors also participated in the buying activity. The combined $540 million in institutional ETF positions corresponds to approximately 4.3 million SOL tokens.
Eric Balchunas from Bloomberg highlighted that 13F-filing institutions control 50% of all Solana ETF assets. Since the launch date, cumulative inflows into US spot Solana ETFs have totaled $952 million.
