preferred on
Points of Focus
- Solana trades at $116.50 after reaching an eight-month high of $119.89.
- US spot Solana ETFs drew $26.1 million on Sept. 21, led by Bitwise and Grayscale.
- SOL futures volume tops $13.5 billion as open interest stays above $7.1 billion.
Solana (SOL) traded at $116.50 on Tuesday, up about 4.3% over 24 hours after reaching $119.89 on Monday, its highest price since January.
The rally coincided with $26.1 million in net inflows into US spot Solana exchange-traded funds (ETFs), while derivatives activity remained heavy as traders increased exposure to the move.
Solana ETF inflows reach $26 million as price hits January levels
US spot Solana ETFs recorded $26.097 million in net inflows on Sept. 21, according to SoSoValue data. Bitwise’s Solana Staking ETF led with $14.44 million, while Grayscale’s Solana Trust added $7.80 million. Together, the two products attracted about $22.24 million, or about 85% of the day’s total.
The inflow lifted cumulative net flows across the products to $1.443 billion, with total net assets reaching $1.740 billion. Solana Compass also reported that the category had recorded 12 consecutive weeks of net inflows through Sept. 18.
The latest ETF inflow adds another source of demand, but it doesn’t explain the price move on its own. Derivatives turnover remained far larger during the rally, making leveraged trading another major part of SOL’s short-term market structure.
SOL futures volume tops $13.5 billion as leverage builds
CoinGlass data shows about $13.57 billion in SOL futures volume over 24 hours compared with $1.45 billion in spot volume. Open interest stood near $7.16 billion.
Futures turnover was more than nine times spot volume, showing that much of the short-term activity remained concentrated in derivatives. ETF inflows provide a separate demand signal, but the gap between futures and spot turnover also shows how much leverage is involved in the current move.
Veteran trader Peter Brandt also highlighted Solana’s weekly chart on Sept. 21, describing it as a “very significant possible longer term look” at SOL. His chart outlined a possible multi-year cup-and-handle formation, though the pattern remains unconfirmed while SOL trades below its previous cycle highs.
This is a very significant possible longer term look at $SOL pic.twitter.com/Wd3DHSlEiu
— The Factor Report (@PeterLBrandt) September 21, 2026
SOL traded at $116.50 after Monday’s $119.89 peak, leaving that level as the nearest confirmed upside reference. The Sept. 21 high marked Solana’s strongest price since January.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency prices are highly volatile. Always conduct your own research before making investment decisions.
Share
Most read articles
