SOL surges to $145, driven by institutional accumulation, ecosystem prosperity, and continuous net inflows from ETFs

SOL has increased by 4.88% in the past 24 hours, currently trading at $145.67, signaling multiple positive indicators. This is not just a simple price rise; it is backed by continuous improvement in the ecosystem fundamentals, sustained institutional capital inflows, and active on-chain activity. The current market capitalization has reached $82.334 billion, up $3.834 billion from yesterday, with trading volume remaining high at $6.951 billion.

Ecosystem Fundamentals Continue to Strengthen

Stablecoin supply hits new highs, DeFi activity remains vigorous

According to the latest news, Circle has issued an additional $1 billion USDC on the Solana network, bringing the total USDC issued on this network since 2026 to $4.25 billion. What does this data reflect? The continuous increase in stablecoin supply directly corresponds to strong demand for DeFi and payment applications. More stablecoins mean more on-chain liquidity, providing the foundation for trading, lending, swapping, and other applications. The expansion of stablecoin scale is often a leading indicator of increased ecosystem activity.

Institutional holdings accelerate concentration

More notably, there are movements at the institutional level. Upexi has signed a $36 million convertible note agreement with Hivemind Capital Partners, which is expected to increase Upexi’s SOL holdings by 12% to over 2.4 million tokens, making it the second-largest corporate SOL holder after Forward Industries. Such large position changes often indicate market participants’ confidence in the long-term prospects of the network. Meanwhile, on-chain data shows that over the past week, major institutional addresses like Wintermute and Fireblocks have frequently transferred large amounts of SOL, with single transfers ranging from 45,000 to 82,300 tokens.

Strong Demand from US Institutions

ETF Continues to See Net Inflows Supporting Price

The US Solana spot ETF recorded a net inflow of $10.67 million in the past 24 hours, with the Bitwise SOL ETF (BSOL) experiencing a single-day net inflow of $8.56 million. What does this indicate? US institutional investors’ interest in allocating to SOL assets continues to grow. From a longer-term perspective, the total net asset value of Solana spot ETFs has reached $1.14 billion, with cumulative net inflows surpassing $828 million. The influx of funds through ETF channels helps support a medium-term upward trend in asset prices, providing a relatively stable source of capital.

On-chain Capital Flows Accelerate

In addition to changes in institutional holdings, shifts in on-chain capital flows are also significant. Over the past week, multiple whale addresses have been adjusting derivatives positions, shifting from short to long positions, with holdings reaching several hundred million dollars. Such position switches often directly reflect a change in market participants’ outlook on future trends.

Technical Outlook Remains Bullish

From a technical perspective, SOL has stabilized above the key $140 level, maintaining an upward short-term trend. The 100-hour simple moving average continues to act as support, meaning that even minor pullbacks can be supported by this line. According to the latest news, if the $145 resistance is effectively broken, the next target is the $150 round number.

What is the current state of SOL? Based on the resonance of bullish momentum accumulation and ecosystem capital flows, SOL remains in a relatively strong operational phase. This is not driven by a single factor but by multiple factors including ecosystem fundamentals improvement, accelerated institutional allocations, active on-chain activity, and positive technical signals.

Ecosystem Development Continues to Advance

It is worth noting that Solana’s infrastructure is also improving. Phantom wallet now supports cross-chain asset swaps to Bitcoin, the X platform is about to launch version 1 of its smart asset tagging, and the Solana Foundation-supported XStable project has completed several million dollars in funding and was selected for the Solaris accelerator. These ecosystem tools and infrastructure improvements lower the barriers for developers and help attract more innovative projects to build on Solana.

Summary

This rise in SOL is not accidental but the result of multiple dimensions working together—ecosystem fundamentals, institutional allocations, on-chain activity, and technical signals. The new high in stablecoin supply reflects strong DeFi demand; increased institutional holdings demonstrate long-term confidence; continuous ETF net inflows provide stable capital support; and on-chain position shifts indicate improving market sentiment. Technically, SOL has stabilized above $140, with the next target at $150. The most important question now is whether these positive factors can be sustained and whether ecosystem development can meet market expectations.