TLDR
- SOL dropped 8.31% from $110.50 to around $100.40 since August 26
- 52 new whale wallets added over the past week, holding 10,000+ SOL each
- US spot SOL ETFs saw seven straight weeks of inflows, with 1.2 million SOL (~$120M) last week alone
- Exchange SOL balances fell 4.91%, suggesting longer-term holding by investors
- The Double Disinflation proposal passed, doubling the annual disinflation rate from 15% to 30%
Solana has pulled back sharply in recent days, but on-chain data tells a different story beneath the surface. The numbers point to growing adoption, institutional buying, and a network running at record levels.
Since August 26, SOL has fallen 8.31%, dropping from $110.50 to around $100.40, according to crypto analyst Ali Charts.
Despite the price drop, Solana’s network has averaged roughly 9.5 million new wallet addresses per day over the past week. That kind of growth suggests more users are entering the ecosystem, not leaving it.
2/7 While $SOL has pulled back 8.31% from $110.50 to $100.40 since August 26, network growth remains strong.
Over the past week, Solana has averaged 9.5 million new addresses per day. Sustained network expansion is a key measure of adoption and has historically preceded major… pic.twitter.com/XemL1eS5OK
— Ali Charts (@alicharts) August 31, 2026
Whale activity has also picked up. The number of wallets holding 10,000 or more SOL grew by 1.58%, adding 52 new whale wallets in the past week. Larger holders accumulating tokens can reduce the amount of SOL available for trading.
ETF Demand Stays Strong
Institutional interest has remained steady. US spot Solana ETFs recorded inflows for seven consecutive weeks. In the past week alone, over 1.2 million SOL flowed into these products, worth roughly $120 million.
🐋 WHALE WATCH :$88.1M in $SOL ETF exposure.
Goldman Sachs is officially the largest known institutional holder of spot Solana ETF according to new 13F filings.
Smart money isn't ignoring the fastest chain in crypto anymore. The TradFi bid is real and its expanding beyond… pic.twitter.com/48NW2P7xwv
— Whale Factor (@WhaleFactor) August 28, 2026
At the same time, the amount of SOL sitting on exchanges dropped by 4.91%. Around 2.6 million SOL was withdrawn from exchanges over the past week, pointing to holders moving tokens into cold storage or long-term wallets.
Crypto analyst CryptosBatman posted on X that SOL has broken out of a major accumulation structure, with the $83–$85 zone as a key retest level. He believes that if that zone holds, SOL could eventually move toward $150 and beyond.
$SOL just broke out of a major accumulation structure.
The $83–85 zone is the key retest and if it holds this move can eventually take $SOL towards $150+ pic.twitter.com/UUBxdqmo2E
— BATMAN ⚡ (@CryptosBatman) August 31, 2026
On the technical side, $103 is the key support level to watch. Around 39 million SOL was purchased near that price, making it a strong area where buyers are likely to step in.
If SOL holds $103 and pushes higher, resistance levels sit near $123 and $132, where roughly 20 million SOL was previously bought. A clean break above both could open the path to $150.
Solana Fees Hit Record Highs
On the network side, Solana’s fee generation reached a seven-day average of nearly 9,200 SOL on August 27, more than 80% higher than three months ago.
Non-vote transactions hit a record 191 million on a seven-day basis, compared to just 88 million a year earlier. Jito validator tips averaged 2,073 SOL per day last week, up 26% week over week.
A governance vote also passed on Friday. The Double Disinflation proposal, SGP-0002, cleared with 67.001% support. It doubles the annual disinflation rate from 15% to 30%, cutting roughly 18.9 million SOL from projected supply over six years.
Staking rewards are set to fall from around 5.25% to 2.25% by year three. Smaller validators relying on inflation income may become unprofitable, while everyday users are unlikely to notice changes in network speed or fees.
Non-vote transactions on Solana now sit at an all-time high of 191 million on a seven-day average basis.
