Crypto

Solana Fueled by On-Chain Metrics and Pending ETF Approval

Guavy AI Editorial Team Published September 10, 2026

Instruments

BTC ETH SOL

Solana's (SOL) surge in popularity is not just a fleeting trend, according to on-chain metrics. The network has consistently ranked among the top two or three for decentralized exchange volume globally, with transaction counts exceeding those of competing layer-one networks.

The network's fee market reforms in early 2026 addressed long-standing criticism by reducing spam transactions and improving block quality. As a result, staking participation has climbed steadily, with estimates suggesting above 65% of circulating supply is currently staked.

While the most significant catalyst for SOL remains regulatory, multiple asset managers have filed applications with the Securities and Exchange Commission (SEC) for spot Solana ETFs in 2025. If approved, institutional inflows into SOL could follow a trajectory similar to the early weeks of Bitcoin (BTC) and Ethereum ETF trading.

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