Solana ended a yearlong monthly losing streak in August, closing near $103 and reclaiming the psychologically important $100 support level. The token traded around $102 on Tuesday, down more than 7% from a recent seven-month high near $110, but buyers have shown accumulation signals across spot and derivatives markets.
According to analyst Ali Martinez, the network added an average of 9.5 million new addresses per day over the past week. Wallets holding at least 10,000 SOL increased by 1.58% after 52 new whale wallets appeared, while exchange balances fell 4.91% after roughly 2.6 million SOL were withdrawn. Martinez views $103 as a key support level backed by 39 million SOL, followed by hurdles at $123 and $132, each tied to about 20 million SOL in previous purchases. A break above those levels could open a path toward $150.
Institutional flows have also strengthened. US spot Solana ETFs extended their weekly net inflow streak to nine weeks, attracting almost $154 million last week. Bitwise’s Solana Staking ETF, BSOL, surpassed $1 billion in assets under management within 10 months. On-chain data from Lookonchain showed a dormant whale returned after eight months to buy 76,856 SOL worth approximately $8 million through Hyperliquid.
Derivatives activity remains elevated, with 24-hour futures volume around $7.82 billion compared with spot volume near $738.76 million, and open interest near $6.64 billion. This increases the risk of forced position closures if SOL loses $100 support or moves rapidly through nearby resistance.
Broader ecosystem developments accompanied the price recovery. Solana concluded its first binding on-chain governance vote and followed it with a 25% increase in network speed, reducing slot times from 400ms to 300ms. Charles Schwab announced plans to add SOL to Schwab Crypto Direct. Solana’s real-world asset holder base crossed 350,000, xStocksFi topped $500 million in assets under management across more than 700 tokenized assets, and tokenized commodities on the network reached a record $50 million in supply.
Market commentators offered varying short-term forecasts. Crypto investor Batman expects a retest of the $83–$85 zone before a push toward $150 or higher, while trader Gerla argues higher lows are forming in a reaccumulation phase and sees $300 or above as the next major expansion zone if the structure remains intact.
