- Solana is hovering near $90 after briefly touching $94 during the recent market rebound.
- Institutional demand is returning, with Solana spot ETFs recording several days of net inflows.
- Stablecoin transactions on the Solana network surged to $650 billion, signaling strong underlying activity.
Solana has been fighting to stay above the $90 level after briefly reclaiming it, but the move hasn’t been completely stable. The token recently pushed up to a local high near $94 before slipping back slightly, showing that sellers are still hovering nearby. Even so, the broader crypto market has started hinting at a recovery, which helped lift SOL a bit in recent sessions.
At the time of writing, Solana is trading around $90.76, up roughly 5% over the past 24 hours and extending its weekly gains to about 3%. The structure of the market still looks somewhat fragile though, with bearish pressure lingering beneath the surface. Yet despite that, institutional investors appear to be quietly stepping in, attempting to absorb some of that downside pressure.
Institutional Buyers Return to the Market
For much of the recent downturn, Solana struggled to build any meaningful momentum because large players — both whales and institutions — had pulled back from active participation. Some investors even capitulated during the sell-off, reducing exposure or preserving liquidity while waiting for clearer signals.
But sentiment among these big participants seems to have shifted over the past three weeks. Institutional demand has started creeping back into the ecosystem, particularly through Solana-focused investment vehicles. One clear example is the recent activity surrounding Solana spot ETFs.
According to data from SosoValue, Solana spot ETFs have recorded net inflows for three consecutive days. That trend suggests institutional investors are once again allocating capital toward SOL, which historically tends to support stronger price action.
ETF Inflows Signal Renewed Confidence
Interestingly, Solana ETFs had been experiencing outflows earlier this year, particularly during February’s market turbulence. But that trend reversed recently, with fresh capital entering these funds again.
On March 4, net inflows climbed to $19 million — the second-largest daily inflow recorded since early January. While that number might not seem massive compared with broader crypto markets, it still reflects a meaningful shift in institutional sentiment. And in crypto, sentiment shifts can move markets surprisingly fast.
Sustained inflows into investment products tied to SOL often indicate growing confidence from larger investors, and historically that kind of participation can fuel stronger rallies when conditions align.
Stablecoin Activity Explodes on Solana
While price action struggled through February, something else was happening quietly beneath the surface of the network. Stablecoin activity on Solana surged to unprecedented levels, according to a recent report from Grayscale.
Transaction volume involving stablecoins on the Solana blockchain reached roughly $650 billion during the month. That figure more than doubled the previous record set in October 2025, making it the largest stablecoin transaction volume among major blockchains during that period.
Behind those transactions were more than 5.3 million active addresses, based on data from Artemis. Stablecoins have increasingly become a core driver of blockchain adoption, since they power trading, payments, and DeFi liquidity. The surge in activity suggests Solana’s network is attracting serious usage even when price momentum stalls.
And that matters — because higher network usage often translates into stronger long-term demand for the native token.
Can SOL Reclaim Higher Levels?
Despite recent struggles, technical indicators are beginning to hint that the worst of the downturn may be fading. Looking at the Bias ratio, SOL currently holds above both short-term and long-term deviations, which suggests momentum may slowly be shifting back toward buyers.
The fact that Bias24 is higher than shorter time frames points toward the early formation of a longer-term recovery trend. At the same time, the Awesome Oscillator shows bearish momentum weakening, with signals gradually tilting toward a bullish structure.
If this demand continues — particularly with institutional capital returning — Solana could attempt another retest of the $94 level. A successful break above that area might even open the door toward the psychologically important $100 mark.
However, there’s still a cautious side to the outlook. If liquidity across the market continues shrinking and investors step back again, SOL could remain stuck in a broad range between $80 and $91 for the time being. In crypto markets, momentum can return quickly… but it can disappear just as fast.
