Solana Stabilizes Near $80 Amid Robust ETF Inflows and Divergent Network Metrics

As of February 26, 2026, the digital asset Solana (SOL) has demonstrated a period of stabilization, firmly establishing itself near the $80 support threshold. This price action follows a recent cooling-off period where the token retreated from highs near $86, subsequently finding a reliable floor in the $75 to $76 range. This consolidation is being heavily bolstered by a renewed wave of institutional demand. On February 24, U.S.-based spot Solana ETFs recorded a net inflow of $3.78 million, contributing to a cumulative total that has now surpassed $900 million. Such figures underscore a persistent and growing interest from major institutional players in this specific asset class.

Technical indicators suggest that SOL is maintaining its ground above short-term moving averages and has successfully reclaimed the 50% Fibonacci retracement level. Sentiment within the derivatives market is also showing signs of improvement; open interest is climbing, and long positions are currently dominating short ones. This shift in market dynamics helped solidify the price above $80 after a series of short liquidations occurred around the $75–$76 mark. However, traders should note that significant technical resistance remains concentrated between $85 and $88. Analysts believe a decisive breakout above this zone is necessary to trigger a move toward the $90–$94 price targets, while a failure to maintain current support could lead to a potential downside risk toward $74.

Despite the encouraging signals from capital flows and derivatives, the underlying fundamental metrics of the Solana network present a more complex and mixed narrative. The Total Value Locked (TVL) within the ecosystem's decentralized finance (DeFi) protocols is currently approaching the $10 billion mark, indicating deep capital commitment. Data from DeFiLlama reveals that the TVL has surged to 80.27 million SOL, representing the second-highest level in the network's history and effectively tightening the supply of tokens available for exchange. Nevertheless, when measured in U.S. dollars, the TVL has dipped to $6.24 billion as a result of the recent SOL price decline. Despite this, Solana maintains its position as the second-largest network by TVL, trailing only Ethereum, which holds a valuation of $51 billion. Furthermore, a decrease in active addresses was observed in early 2026, creating a contrast with the rising TVL and steady ETF inflows.

The broader environment of institutional integration within the blockchain sector is also playing a role in shaping market sentiment. In a development closely watched by the industry, MoneyGram has officially joined the validator set for the Midnight network—a privacy-focused blockchain built on Cardano—ahead of its anticipated launch in March 2026. As the world’s second-largest money transfer service after Western Union, MoneyGram’s involvement brings significant real-world payment expertise to the Midnight infrastructure. This move highlights a wider trend of traditional financial institutions embedding themselves into blockchain frameworks, which indirectly validates the institutional legitimacy of the broader asset class that includes Solana.

Market participants are now carefully observing whether the current momentum from ETF inflows and technical resilience can outweigh the headwinds of inconsistent fundamental data. Historically, periods of price weakness for Solana have been linked to outflows from SOL ETFs, highlighting how sensitive the asset is to the moods of institutional investors. Consequently, the current stabilization near $80, occurring against a backdrop of strong capital entry but fluctuating user activity, creates a scenario of divergence. A confirmed breakout of key technical levels will likely be required to determine the next major direction for the asset.