Solana shows bullish momentum amid record ETF inflows

Solana (SOL) is experiencing significant market activity driven by institutional demand and strong on-chain metrics. Despite recent price corrections, analysts point to a bullish outlook with potential targets as high as $150.

Key drivers include massive inflows into US-based spot Solana ETFs, which have seen seven consecutive weeks of net positive growth, including a record single-day inflow of over $60 million in late August. Additionally, major financial institutions like Charles Schwab have announced plans to include SOL in their crypto offerings.

On-chain data supports this momentum, showing an average of 9.5 million new addresses created daily and an increase in whale wallets holding over 10,000 SOL. While the asset has faced short-term selling pressure and volatility, the reduction in exchange balances suggests a decrease in immediate liquid supply, potentially fueling future price appreciation.