Key Takeaways
- Solana’s price remains anchored around $120, sustaining critical support zones.
- US-based spot Solana ETFs have recorded positive inflows for 11 consecutive weeks.
- Technical analyst Ali Charts projects a potential climb to $150 for SOL.
- ETF capital inflows reached $188.21 million last week—the highest in nearly a year.
- Solana overtook competitors to become the top blockchain for tokenized commodities trading volume.
Solana’s price hovered around the $120 mark on Tuesday, maintaining position above the crucial $116 support zone. The digital asset retreated slightly after approaching $125 during the previous week’s session.
This price action occurred alongside a broader cryptocurrency market rally, which saw total market capitalization climb 1.11% to $2.9 trillion over a 24-hour period. Bitcoin maintained its position near $84,000, while Ethereum sustained levels above $2,700.
Investment vehicles tracking Solana in the United States have now recorded 11 consecutive weeks of positive net inflows. According to analyst Ali Charts, these funds have collectively accumulated approximately 4.37 million SOL tokens beginning July 13.
In a post shared on X, Charts highlighted that the funds currently manage approximately $450 million in SOL holdings. “With institutional demand continuing to absorb Solana, I’m watching for the next leg higher toward $150,” he stated, establishing $150 as his projected upside level.
His calculation of 11 weeks of uninterrupted inflows extends through September 25. The most recent trading week was still in progress at the time of his analysis.
Weekly ETF Capital Reaches Highest Level in Nearly a Year
Spot Solana exchange-traded funds in the United States captured $188.21 million in net inflows during the seven-day period concluding September 27. According to SolanaFloor, this marked the most robust weekly performance in 10 months.
Bitwise’s BSOL product commanded the largest share with $128.46 million in fresh capital. Grayscale’s GSOL vehicle contributed $28.06 million, while Fidelity’s FSOL attracted $17.59 million.
According to SoSoValue tracking data, an additional $12.70 million flowed into these investment products on September 28. Aggregate net inflows across all Solana ETF offerings have now reached $1.62 billion, with combined net assets totaling $1.93 billion.
This sum represents approximately 2.76% of Solana’s overall market capitalization. In related developments, DeFi Development Corp disclosed it acquired roughly 47,706 SOL tokens since September 21, pushing its total position to approximately 2.54 million SOL.
Solana Captures Leading Position in Tokenized Commodities Market
Decentralized exchanges operating on Solana 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, as reported by Blockworks.
Robinhood Chain secured second position with $81.3 million in trading activity, capturing approximately 25% market share. Notably, Solana’s portion of this market expanded from just 5% four weeks prior.
Canton Network registered $67.4 million in weekly transaction volume. Ethereum processed $62.6 million during the identical timeframe.
The total stablecoin supply on Solana reached $17.3 billion as of September 25, according to the network’s official metrics. However, DefiLlama’s Tuesday assessment placed the figure somewhat lower at approximately $16.37 billion.
From a technical perspective, the four-hour Relative Strength Index registered 55.99, suggesting strengthening momentum. The MACD indicator remained positioned below its signal line, while the histogram continued displaying negative values.
Market participants are monitoring $120 as the primary support threshold, with secondary support zones identified at $115 and $110. A successful breakthrough above $125 would bring $130 into focus, with the analyst community’s $150 target representing the longer-term objective.
The post Solana (SOL) ETFs Register Record $188M Weekly Inflows as Price Eyes $150 Breakout appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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