Solana Holds Firm Despite 99% Collapse in ETF Inflows

Solana's recovery from a significant price drop shows resilience, despite a sharp decline in ETF inflows. The SOL price has been consolidating around $120 after four consecutive positive sessions, with its recovery facing a test from weaker ETF demand. According to CoinGlass data, Solana-focused ETFs recorded $2.43 million in net inflows last week, a decline of approximately 98.7% from the previous week's $188.22 million. This slowdown in fund flows may be a temporary pause or a more persistent trend, but the network's decentralized exchange volume and tokenized stock trading activity provide a counterweight to the decline.

The Solana network continued to show strong activity despite the softer ETF inflows, with the decentralized exchange volume exceeding the combined volume of Ethereum mainnet, Ethereum Layer-2 networks, and Hyperliquid on Sunday. The platform also cites more than $4.4 billion in tokenized-stock trading volume on Solana, pointing to growing activity around blockchain-based exposure to traditional equities. The reports suggest continued ecosystem participation, even as investment through ETFs moderates.

The SOL price remains above its key moving averages on the four-hour chart, preserving a mildly bullish technical structure. The narrowing boundaries of a triangle on the chart suggest price is consolidating between nearby buying and selling levels. The immediate upside hurdle is the resistance trendline around $123, followed by September's high at $124.95. A confirmed move above both levels would strengthen the case for extending the recovery, with a Fibonacci projection placing the next potential target at $132.87.