According to Woofun AI, Solana (SOL) has broken out strongly amid a broad recovery in the cryptocurrency market, driven primarily by robust demand for spot SOL ETFs and a surge of capital into staking operations, propelling its price up 102% from its year-to-date low and past key resistance levels.
The continued influx of institutional capital forms the foundation of this rally. Over the past six days, SOL ETFs have maintained consecutive net inflows, attracting $264 million in a single month and marking a record third straight month of positive inflows. To date, cumulative net inflows into such funds have exceeded $1.61 billion, with total assets surpassing $1.96 billion. Data compiled by Woofun AI shows that the BSOL ETF launched by Bitwise leads with assets of $1.36 billion, followed by giants including Fidelity, Grayscale, Morgan Stanley (NYSE: MS), and VanEck, together building a deep institutional holding base.
The flourishing on-chain ecosystem further reinforces the value foundation. As investors' willingness to hold for the long term strengthens, the SOL staking ratio has climbed to nearly 70%, with an annualized yield of 5.04%. The staking market capitalization has expanded from $42 billion on September 16 to $54 billion. Meanwhile, the stablecoin market capitalization within the Solana network has grown to $16.7 billion, and the RWA (real-world asset) market capitalization has reached $2.45 billion. This performance resonates with the broader macro market: Bitcoin (CRYPTO: BTC) has risen from $57,000 in July to above $84,000, the total global cryptocurrency market capitalization has surpassed $2.8 trillion, and Solana's position as a top-tier public blockchain remains solid.
Technical signals clearly point to higher price levels. TradingView charts show that SOL has formed a bullish flag pattern composed of a vertical line and a descending channel, and has broken through the key resistance level of $110, which was the high on August 28. In addition, the price formation exhibits an inverse head-and-shoulders pattern, and the 50-day moving average has crossed above the 200-day moving average to form a golden cross. With multiple technical factors converging, bulls have set their sights on the psychological threshold of $150, which, if achieved, would represent a gain of 25% from the current price.
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