- Solana’s market cap reached $137 billion, propelled by token unlocks and sustained on-chain staking locking up two-thirds of supply.
- Nearly 89% of SOL is now liquid, with remaining scheduled unlocks small enough to avoid major market disruptions.
Solana’s market cap has climbed to a record $137 billion, driven by new supply mechanics and continued on-chain activity. The SOL token recently touched $250 for the first time since early in the year. Despite trading 15% below its all-time high, the market value continues rising. The underlying cause lies in the pattern of token unlocks and a steadily increasing circulating supply.
Nearly 89% of all SOL, or around 543 million tokens, is liquid. Only 11% remains locked. Earlier in the year, a major unlock related to the FTX case released 11.16 million tokens. The market absorbed the influx with little disruption. Unlocks scheduled for the coming months average just 12,700 SOL each, a small figure compared to the total supply.
Staking activity is another defining factor. On-chain data shows 410 million SOL is currently staked, accounting for roughly two-thirds of the liquid supply. This locked capital limits supply pressure, helping to maintain a bid-heavy orderbook.
Annual inflation stands near 4.3% and is set to decrease gradually. Fewer tokens enter circulation as more SOL is staked, which helps sustain higher prices even as more supply becomes available.
Recent quarterly data shows Solana delivered a 55% return on investment, clearing key resistance areas and fueling interest among traders. Order books reflect the trend: with most supply-side risk in the rearview mirror, buyers appear willing to absorb additional volume.
Solana (SOL) is trading at $239.72, up 0.06% in the last 24 hours. Over the past month, SOL has surged 33.06%, while six-month growth stands at 70.08%. On a yearly basis, the token has advanced 63.54%, giving it a market capitalization of $130.28 billion and daily trading volume of $3.52 billion.
Solana has broken above the $205–$215 range, creating higher highs and lows. Analysts suggest that holding above $235 keeps the bullish outlook intact, with upside targets around $295–$300. On the downside, support remains at $215–$205.
A large transaction has caught attention: 312,233 SOL, worth about $75 million, was transferred to Coinbase Institutional. Moves of this size often raise speculation about institutional positioning, as they can impact supply dynamics on major exchanges.
From a technical perspective, Solana continues to show strong momentum. Indicators remain neutral-to-bullish, reflecting consolidation after its recent rally. If SOL sustains above $235 and retests $250, the next price objectives lie near $270–$295. However, failure to defend $235 could lead to a correction back toward the $215 zone.
