Gate News Bot Message, December 29 — According to CoinMarketCap data, at the time of press, SOL (Solana) is trading at $128.87, up 3.98% in the past 24 hours, with a high of $129.30 and a low of $119.90. The 24-hour trading volume reached $2.739 billion. The current market capitalization is approximately $72.526 billion, an increase of $2.778 billion from yesterday.
Recent Key Drivers for SOL:
1️⃣ Continuous Institutional Inflows and Strong Spot ETF Performance
Solana spot ETFs have been steadily attracting institutional funds recently, with a net inflow of 319,005 SOL (about $39.24 million) over the past 7 days, contrasting sharply with significant net outflows from Bitcoin and Ethereum ETFs during the same period. As the top-ranked blockchain revenue generator for 2025, Solana leads Hyperliquid and Tron with $1.3 billion in on-chain revenue, reflecting its rising priority in institutional allocations. Solana treasury companies like Upexi and MemeStrategy have increased holdings through SEC financing and additional purchases, now holding over 2 million SOL, providing ongoing support for the price.
2️⃣ Ecosystem Infrastructure Improvements Driving Long-Term Growth Potential
The Solana Foundation launched infrastructure upgrades such as the ConnectorKit wallet connection SDK and Kora fee relayer, supporting features like fully paid transaction fees and custom fee tokens (including stablecoins), effectively lowering user entry barriers. Meanwhile, Kyle Samani, co-founder of Multicoin, predicts that by the end of 2026, Solana’s mainnet transaction volume in spot and perpetual contracts will compete with major centralized exchanges, possibly surpassing them. Circle has burned 55 billion USDC on the Solana network since 2025, indicating ongoing expansion of the stablecoin ecosystem and sustained on-chain economic activity.
3️⃣ Deep Changes in On-Chain Fundamentals and Validator Ecosystem
SOL staking has reached a record high of 409 million tokens, demonstrating increased network security and long-term participation. The number of Solana RWA holders has exceeded 115,000, growing about 11% over the past 30 days, with the total tokenized stock value on-chain reaching $185 million. However, reductions in subsidies to small validators by the Solana Foundation have caused validator counts to drop sharply from 2,500 to 800, which, while reducing centralization risk, still leaves a significant gap compared to Ethereum’s 1 million validators. Cardano’s founder believes Solana’s rapid development and quick upgrades give it a short-term competitive edge, continuously attracting application ecosystem growth.
Currently, SOL price remains in a long-term range of $122–$145. Technical indicators show RSI around 40, indicating a weak neutral zone, with MACD below the signal line. On-chain data reveal a clear divergence between whale long and short positions; the 20x leveraged SOL short positions are gradually being closed, which may create room for upward price breakthroughs. Although the stablecoin ecosystem experienced short-term liquidity fluctuations, the rapid recovery of USX after Solstice injected liquidity reflects market participants’ recognition of ecosystem resilience.
This message is not investment advice; please be aware of market volatility risks.
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