Solana(SOL)ETF demand surged on August 27, but prices fell by more than 20% on the two previous trading days with larger inflows.
Key Points:
The Solana Spot ETF attracted US$60.91 million on August 27, the third-highest single-day inflow since its launch.
Two trading days with larger inflows in 2025, prices fell by at least 20% in the following two weeks.
Current growth in network fees, DeFi deposits and tokenized assets provides stronger support than previous highs.
Solana ETF Fund Inflows
On August 27, the net inflow of US spot Solana ETF was US$60.91 million, almost seven times that of the previous trading day, setting the strongest performance since November 3, 2025. Trading volume more than doubled that day to US$196.82 million, and cumulative inflows increased by 4.83% to US$1.322 billion.
Bitwise's BSOL funds contributed approximately 66% of inflows, although five of the nine funds attracted funds.
This record is also accompanied by warning signs. On October 28, 2025, the Solana ETF inflow of US$69.45 million, followed by SOL falling 20.1% in seven days and 27.5% in one month; while on November 3, after inflow of US$70.05 million, it fell 21.1% in two weeks. Although the two cases are not enough to constitute a strong statistical sample, the overall market did weaken at the end of 2025.
Analyst's view: stronger network fundamentals
Analyst Ananda Banerjee believes that the current rally has more solid network support than previous rounds. Tokenized real-world assets reached a record high of $4.167 billion on August 25, with holders growing by 12.12% in 30 days. Monthly fee income increased by 37.29%, DeFi deposits climbed 24.36% to US$5.96 billion, and Solana's decentralized exchange volume accounted for 31.16%.
Network capacity has also been expanded. The largest block size increased by 66% in July, and MoneyGram's cash channel now covers more than 170 countries.
Other signals are relatively weak. In the 30 days when SOL prices rose by 46.3%, the supply of stablecoins increased by only 0.59%. The number of weekly active addresses fell by 7.23%, while Binance's active buy/sell ratio was 0.907, indicating that selling behavior is more aggressive than buying.
Positions increased by 62.19% in U.S. dollar terms, but only increased by 10.34% in SOL terms, indicating that the increase was mainly due to price appreciation rather than a simultaneous expansion of positions. This limits the level of market confidence inferred from derivatives trading.
SOL is currently trading at around $107, up 49.35% since August 16, with resistance at $109.39 and support at $105.98 and $101.77. A break below $94.95 will weaken the bullish structure. Prior to this rise, SOL's monthly increase was about 46%, bringing its price close to the high range of large ETF inflows in 2025.

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