Solana Builds Strong Case for Higher Valuations as ETFs and Network Metrics Surge

Investors anticipate Solana (SOL) gaining momentum in 2026, driven by:

• Increasing on-chain activity
• Expanding DeFi participation
• Growing institutional exposure through exchange-traded funds (ETFs)

Key Observations:

• SOL is trading at $139, below its all-time high, but network fundamentals are strengthening alongside a gradual price recovery.
• Active addresses on Solana increased from 3.38 million to 3.78 million, indicating broader participation across transfers and application usage.
• Total Value Locked (TVL) in Solana-based protocols rose from approximately $8 billion to over $9 billion.
• Decentralized exchange (DEX) volume reached $1.5 trillion in 2025, up 57% year-over-year.
• Revenue from applications built on the Solana network was $2.39 billion in 2025, a 46% increase.
• Stablecoin supply more than doubled to $14.8 billion, with transfers reaching $11.7 trillion.

Institutional Participation Through ETFs:

• Assets under management in Solana-focused ETFs crossed $1.02 billion.
• Bitwise’s BSOL holds the majority share of these assets.
• Cumulative inflows of nearly $800 million suggest ongoing demand for regulated exposure.

Current SOL trading levels around $140 are supported by rising volume and improving technical indicators. The combination of ETF inflows, higher network usage, and expanding revenue streams supports potential for higher valuations.