After a period of significant volatility, the Solana (SOL) network is demonstrating newfound stability, with its price consolidating around the $132 level. This firming trend coincides with a resurgence of institutional interest and the approach of a major milestone for its mobile ecosystem.
Robust Network Activity Underpins Value
The decentralized finance (DeFi) infrastructure on Solana continues to show strength. Its Total Value Locked (TVL) is currently holding steady in a range between $7 billion and $10 billion. While this figure remains below the peak levels observed in the third quarter, it represents a substantial increase over the metrics recorded throughout 2023. Supporting this activity, the 24-hour trading volume across the network stands at approximately $2.06 billion. From a technical analysis perspective, SOL is successfully defending a key support level at $130. Market observers note that the immediate resistance levels to watch are situated at $140 and $150; a decisive break above these could signal an end to the current consolidation phase.
ETF Flows Reveal Shifting Institutional Allocations
A clear signal of returning institutional confidence emerged last Friday, when U.S.-listed Solana exchange-traded funds (ETFs) collectively recorded a net inflow of $15.68 million. This positive movement halted a brief sequence of outflows. The inflows were led by the Bitwise Solana ETF, which attracted $12.18 million, followed by Fidelity’s offering with $3.49 million.
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This activity, however, presents a nuanced picture. On the preceding day, the 21Shares Solana ETF experienced a significant outflow of $41.79 million. Market experts interpret this not as a broad institutional exit from Solana exposure, but rather as a rotation of capital between different ETF providers. The competition among issuers has been intense since the conversion of the Grayscale Solana Trust into a spot ETF back in October.
Anticipated Mobile Token Launch Drives Interest
A significant catalyst for the current positive sentiment is the upcoming launch of the SKR token by Solana Mobile, scheduled for January 2026. According to the distribution plan, 30% of the total token supply will be allocated to the community via an airdrop. Priority for this distribution will be given to owners of the Solana Saga smartphone, along with active network users and developers.
The token’s inflation model is designed to incentivize long-term participation through staking. The model is structured to eventually reach a final, steady inflation rate of 2% after a six-year period.
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