Solana Surges on $155M ETF Inflows and Stablecoin Growth

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• Solana ETFs attract $155M in three days.
  
• SOL leads Layer-1 blockchains in stablecoin growth.
  
• Technical outlook shows potential push toward $210.

Solana (SOL) rebounded 2% to $190 on Friday, October 31, following a brief dip to $179. Positive sentiment around the US-China trade talks and growing institutional adoption through Solana ETFs have helped stabilize the token, highlighting a pivotal moment for the Layer-1 blockchain.

Institutional Inflows Drive Solana Momentum

Since the launch of Solana ETFs on October 28, inflows have exceeded $155 million within just three days. Bitwise’s BSOL dominates the market with $152.5 million, while Grayscale’s GSOL holds $2.2 million. These investments are directly influencing on-chain activity, providing liquidity and supporting price stability after Thursday’s sell-the-news dip.

Grayscale’s research team sees substantial growth potential, projecting that within one to two years, Solana ETFs could absorb roughly 5% of the total token supply—translating to more than $5 billion in holdings, a staggering 3,000% increase from current inflows.

Solana Leads in Stablecoin Growth

Beyond ETFs, Solana is outpacing all other Layer-1 blockchains in stablecoin supply growth. According to Artemis data cited by Solana Floor, the network saw a $152 million increase in stablecoins over 24 hours, surpassing Ethereum’s $140 million. Polygon and Plasma lag far behind with around $22 million each.

This surge in stablecoins signals stronger liquidity within the Solana ecosystem, offering a cushion against broader market volatility and supporting potential upward price movement.

Technical Outlook: Eyes on $210 Resistance

Technically, SOL has stabilized near $186.50, trading within the mid-band of the Keltner Channel (KC 20). The Relative Strength Index (RSI) at 44.43 shows mild bearish pressure but leaves room for recovery. MACD indicators hint at a potential shift toward positive momentum.

A sustained daily close above $194.50 could pave the way for a push past $210, while failure to hold $180 might trigger a retest of the $170 support level.

Solana’s recent rebound reflects a combination of institutional ETF inflows and rising stablecoin liquidity. With strong technical signals and growing adoption, SOL could be poised for significant gains if bullish momentum persists. Investors will be closely watching the $194–$210 range for confirmation of a sustained recovery.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Also Read: Solana Price Targets $296 as Bulls Eye Breakout Above Key $207 Resistance