Solana trading volume reaches 4.2 billion, SOL prices may usher in a new catalyst

Solana rose 2.90% to US$98.46 in 24 hours, outperforming the overall flat market, driven mainly by strong institutional demand from spot ETFs and breaking through key US$100 levels. The U.S. spot Solana ETF attracted US$33.49 million on August 24, the strongest one-day inflow since December 2025, raising the cumulative net inflow to approximately US$1.22 billion. In addition, Solana recorded 4.2 billion online transactions in July, an increase of 13.5% from June and a 91% increase from December 2025. With network activity reaching all-time highs and the Agave 4.2 upgrade cutting storage costs by 90%, SOL prices now have both market and fundamentals catalysts for attention.

Solana's 4.2 billion transactions indicate that online activity has returned

The latest Solana data provides stronger fundamental support for SOL price increases. Solana processed 4.2 billion online transactions in July, setting a new high in online history. This is an increase of 13.5% from June and 2 billion more transactions than in December 2025, an increase of 91%.

BREAKING: The total number of transactions on the Solana chain hit a historical record of 4.2 billion in July, a month-on-month increase of 13.5%. Compared with December 2025, there are 2 billion more transactions, or +91%. This surge in activity occurred as Solana ($SOL) rose 40% in 8 days to its... -- The Kobeissi Letter (@KobeissiLetter) August 25, 2026

This activity is also related to the growth of tokenized assets. The real-world asset market on Solana has exceeded $38 billion, and Jupiter currently accounts for approximately 71% of the network's DEX aggregator transactions. This is critical for Solana prices, as higher activity volumes create more demand for the infrastructure that supports transactions, transactions and applications.

Institutional funding flows are adding to another measurable source of demand. The Solana ETF brought in $33.49 million on August 24, of which Bitwise's BSOL accounted for approximately $25 million. ETF trading volume on the day also reached US$166.83 million.

Agave 4.2 provides another fundamental catalyst for SOL prices

Solana's Agave 4.2 upgrade may make the network cheaper and more powerful for developers. SIMD-0437 reduces storage rent requirements by 90%, reducing rent-free deposits for standard SPL token accounts from approximately $0.159 to approximately $0.0159.

This difference becomes important for applications that require thousands or millions of accounts. Orderbook exchanges, games and tokenization platforms can use less funds to lock in account deposits to maintain on-chain status.

Agave 4.2 also increased the maximum transaction size from 1232 bytes to 4096 bytes. The upgrade aims to shorten the slot time from 400 milliseconds to 200 milliseconds as phased activation progresses.

The price is that cheaper storage may encourage more state growth, increasing the need for verifiers. This makes account growth, verifier engagement and network performance important indicators to focus on as more features are activated.

Solana chart shows what it shows

We looked at the chart and the technical structure has improved significantly from a June low of about $62. SOL prices traded below $84 for several weeks before breaking through the $84 zone in July. Now, the $84 level is the first major support area on the chart.

The latest gains pushed SOL above $90 and into the $98 -100 region. The chart shows resistance near $100, and the current candlelight line is testing the area, with intraday highs close to $103. If buyers close daily above $100, the next major resistance level is around $116.50.

The $116.50 level is important because it was a major area of support and resistance in previous declines. Therefore, a successful breakthrough of $100 will give SOL prices a clear technical target of higher than $116.

If a breakthrough fails, US$84 becomes the key monitoring level. Below it, the chart points to the $78 area, followed by a bottom of about $62 -64 in June.

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Where might SOL prices go next?

The bullish path starts with SOL holding on to the $97.50 -100 region and recovering $103. If the daily line closes above US$103, US$116.50 comes into view. Starting from $98.46, a rise to $116.50 means an increase of about 18%.

The neutral path will be for SOL to struggle around $100 -103 and then fall back to $92 -94. If buyers hold on to the area, SOL prices may consolidate, then try again for $103 and challenge $116.50.

The bearish path begins when SOL fell below $97.50 and failed to recover that level. A break below US$94 will expose the US$84 support area, and a loss in this area may push the SOL price to US$78. A deeper decline below $78 would reopen the June range of around $62 -64.

Currently, the data provides two clear catalysts for SOL: record web activity and strong demand for institutional ETFs. The technical side adds another test.$100 -103 constitutes a direct obstacle, and $84 is the key support for breaking through.

FAQs

Can SOL prices reach US$116 after exceeding US$100?

Yes. If SOL holds on to the $97.50 -100 area and clears $103 resistance, the next major target on the chart is around $116.50.

Why is Solana's Internet activity increasing?

Solana processed a record 4.2 billion online transactions in July, a month-on-month increase of 13.5% and a 91% increase from December 2025. Growth in DEX transactions, tokenized assets, and applications such as Jupiter has driven the increase in activity.

What does the Agave 4.2 upgrade mean for Solana?

Agave 4.2 cuts storage rental costs by approximately 90%, reducing rent-free deposits in standard SPL token accounts from approximately $0.16 to $0.016. This may make Solana more attractive to applications that require a large number of online accounts.