Solana (SOL) Surges Past $120 as ETF Inflows Hit All-Time High

Key Highlights

• SOL maintains position above $120 mark for the first time in eight months, gaining approximately 8% weekly.
• The Alpenglow protocol enhancement arrived on devnet September 25, targeting 150ms settlement speed.
• United States Solana exchange-traded funds registered unprecedented $86.67M daily inflow on September 25.
• Network stablecoin capitalization reached record peak of $17.394 billion.
• September 24 saw Solana’s native trading volume exceed major centralized platforms including Coinbase, Bybit, and Kraken.

The Solana token has pushed beyond the $120 threshold this week, marking its first sustained presence at this level since the final days of January. The digital asset posted approximately 8% gains across the seven-day period, extending a broader rebound that began near the $75 mark during early August.

As of September 26, SOL was changing hands at $121.19. This represents a decline of approximately 58% from its January 2025 high-water mark of $294.

Market participants are currently eyeing $130 as the next significant resistance level. Technical analysis of the four-hour timeframe reveals SOL progressing within an ascending price channel, while the relative strength index registers 63.09.

This indicator level demonstrates upward momentum while remaining below overbought territory. The Chaikin Money Flow indicator registered 0.09, indicating constructive capital flows accompanying the recent price advance.

Alpenglow Enhancement Pursues Transaction Speed Improvement

The Alpenglow protocol enhancement arrived on Solana’s development network September 25. Anza, the engineering organization spearheading this initiative, verified the deployment one day following the testnet implementation.

Anza announced via X: “Alpenglow is officially running on devnet. The handoff completed at slot 504148999: Alpenglow genesis block formed and TowerBFT is retired. App developers: test your programs and integrations now during our observation period leading up to mainnet-beta migration.”

This technical enhancement seeks to reduce settlement finality from the current 12.8 seconds down to approximately 150 milliseconds. Settlement finality represents the moment when a blockchain transaction becomes irreversible.

Accelerated finality could enable trading platforms to process deposit confirmations more rapidly. The mainnet deployment remains pending, meaning end users have yet to experience the performance improvements.

Market analyst Crypto Patel highlighted an alternative threshold as particularly significant. Through a social media post on X, Patel observed that SOL had recaptured the $120 level following an eight-month absence, but identified $150 as the critical inflection point, suggesting that a weekly settlement above this mark could unlock price objectives at $250, $500, and $1,000.

Patel further indicated that failure to break through $150 resistance might push SOL back toward the $75 zone, which was characterized as a potential accumulation opportunity.

Exchange-Traded Fund Activity And Blockchain Metrics

United States spot Solana exchange-traded funds captured $86.67 million in net capital inflows on September 25. This represented the largest single-session accumulation since these investment vehicles commenced trading.

Bitwise’s BSOL attracted $55.73 million in fresh capital. Grayscale’s GSOL contributed $18.47 million, while Morgan Stanley’s MSOL secured $5.96 million.

Seven-day inflows totaled $181 million, establishing the second-largest weekly accumulation in the products’ history. Aggregate net assets across all Solana ETFs reached $1.96 billion.

The total market capitalization of stablecoins operating on Solana also established a new record, climbing to $17.394 billion on September 25. This figure represents more than sixfold growth compared to April 2024 levels.

Daily active addresses on the Solana network surpassed 8 million, exceeding the aggregate total across all other monitored blockchain networks. On September 24, Solana’s decentralized exchange spot trading volume reached $2.69 billion, surpassing centralized platforms Coinbase, Bybit, and Kraken.