- Solana’s $706M ETF inflows, record on-chain growth, and strong institutional demand have analysts convinced a breakout toward $300 may be imminent.
- Despite cautious derivatives sentiment, network activity and macro conditions are aligning for Solana’s next major rally.
Solana’s native token, SOL, is once again stealing the spotlight as analysts grow increasingly confident that its long-anticipated move toward $300 could arrive faster than expected.
A combination of record-breaking institutional inflows, surging on-chain activity, and resilient market structure has positioned Solana as one of the most promising assets in the current crypto cycle.
According to CoinShares, Solana-based ETFs and ETPs recorded a staggering $706 million in weekly inflows, easily outpacing XRP’s $219 million. The data highlights the growing institutional demand for Solana, especially as anticipation builds around potential spot Solana ETF approvals expected later this week.
Analysts argue that such regulatory clarity could serve as a major inflection point for SOL’s next leg up.
Despite the impressive capital inflows, funding rates for SOL perpetual futures have remained below the 6% neutral threshold, indicating that retail traders have not yet jumped aggressively into leveraged long positions.
This restrained sentiment, paradoxically, may strengthen the bull case, leaving room for a powerful upside once market conviction returns.
On Tuesday, SOL rebounded to $229 after dipping to $218, following the Federal Reserve’s minutes from its September meeting, which reaffirmed expectations for additional rate cuts in 2025. The prospect of easier monetary policy has injected fresh optimism into risk assets, particularly high-beta cryptocurrencies like Solana.
Network Fundamentals Strengthen
Solana’s on-chain health continues to impress. The network’s seven-day fees surged 22%, according to Nansen data, reflecting higher transaction volume across decentralized exchanges (DEXs). In contrast, Ethereum’s network revenue fell 21% over the same period, further evidence of shifting momentum toward Solana’s high-throughput infrastructure.
Data from DefiLlama shows that Solana DEX volumes jumped 78% on Pump, 73% on Meteora, and 46% on Raydium, lifting Solana’s 30-day trading volume to $129 billion, surpassing Ethereum’s $114 billion. Meanwhile, Solana’s total value locked (TVL) climbed 8% in the past month to $14.2 billion, securing its position as the second-largest blockchain by TVL.
Institutional Demand Drives Next Leg
Even as rival networks like BNB Chain have seen temporary boosts from memecoin activity, analysts say Solana’s strength lies in its organic growth and institutional integration. The continued inflow into Solana ETFs and ETPs underscores deepening confidence from asset managers and funds positioning for long-term exposure.
With ETF approval odds rising, a favorable macro backdrop emerging, and record network activity, the stage appears set for Solana’s next major breakout. Analysts suggest that a sustained close above $250 could trigger accelerated momentum, potentially propelling SOL toward the $300 milestone sooner than most expect.
In the words of one trader on X,
The market has been underestimating Solana’s staying power — once the ETF news hits, this won’t stay under $250 for long.