Solana (SOL) ETFs Record Highest Weekly Inflows Since November 2024 – Price Eyes $150

Key Highlights

• SOL maintains its position around $120, staying above critical support zones.
• American spot Solana ETFs recorded their 11th consecutive week of positive inflows.
• Market analyst Ali Charts projects a $150 price target for SOL via X platform.
• ETF inflows reached $188.21 million for the week, marking a 10-month peak.
• The blockchain platform dominated tokenized commodity trading volumes for the first time historically.

The price of Solana hovered around the $120 mark on Tuesday, maintaining stability above the $116 support threshold. The digital asset experienced a slight retreat following a test of the $125 level during the previous week.

This price action occurred against a backdrop of overall cryptocurrency market strength, with total market capitalization climbing 1.11% to reach $2.9 trillion over a 24-hour period. Bitcoin maintained its position near $84,000, while Ethereum continued trading above the $2,700 threshold.

The streak of positive inflows into US-based spot Solana ETFs expanded to an 11th consecutive week. Market analyst Ali Charts reported that these investment vehicles have accumulated approximately 4.37 million SOL tokens beginning July 13.

In data shared via X, Charts indicated that the ETF holdings currently represent approximately $450 million in SOL value. “Given the persistent institutional accumulation of Solana, I’m monitoring for potential upward movement toward the $150 level,” he stated, establishing $150 as his projected resistance target.

The analyst’s calculation of 11 uninterrupted weeks extends through September 25. At the time of his post, the ongoing trading week remained in progress.

Weekly ETF Capital Influx Hits Ten-Month Record

American spot Solana exchange-traded funds attracted $188.21 million during the seven-day period concluding September 27. SolanaFloor characterized this as the most robust weekly performance recorded in ten months.

Bitwise’s BSOL product dominated the inflows with $128.46 million. Grayscale’s GSOL contributed $28.06 million to the total, while Fidelity’s FSOL accounted for $17.59 million in new investments.

According to SoSoValue tracking data, an additional $12.70 million flowed into these funds on September 28. The aggregate net inflows spanning all Solana ETF products reached $1.62 billion, pushing total net assets under management to $1.93 billion.

This sum constitutes 2.76% of Solana’s overall market capitalization. In related developments, DeFi Development Corp disclosed that it increased its position by approximately 47,706 SOL tokens since September 21, elevating its total holdings to roughly 2.54 million SOL.

Network Dominates Tokenized Commodity Transaction Volume

Decentralized exchanges operating on the Solana blockchain facilitated $91.1 million in tokenized commodities transactions during the September 21-27 timeframe. This volume represented 28% of the $322.7 million total market activity, as documented by Blockworks research.

Robinhood Chain secured the second position with $81.3 million in volume, capturing roughly 25% of market share. Notably, Solana’s portion increased significantly from just 5% measured four weeks prior.

Canton Network followed in third place with $67.4 million in weekly transactions. Ethereum processed $62.6 million during the identical timeframe.

The stablecoin supply residing on the Solana network totaled $17.3 billion as of September 25, based on official network statistics. However, DefiLlama’s Tuesday assessment placed the figure somewhat lower at approximately $16.37 billion.

Technical indicators on the four-hour chart showed the RSI registering 55.99, suggesting strengthening momentum. The MACD line continued trading beneath its signal line, while the histogram displayed negative values.

Market participants are monitoring $120 as the primary support threshold, with additional support zones identified at $115 and $110 beneath current levels. A successful breach above $125 would bring $130 into focus, with $150 serving as the upper target that analysts are currently tracking.