Points of Focus

• Solana processed a record 1.01 billion non-vote transactions last week.
• SOL traded above a $73.24-$74.00 MA cluster, but the daily MACD stayed bearish at -0.72.
• US spot SOL ETF weekly inflows slowed to $2.82 million from $7.20 million, despite a $1-million inflow on Aug. 4.

Solana (SOL) traded at $74.08 on Wednesday as the network processed a record 1.01 billion non-vote transactions in one week. The milestone confirmed heavier network use, but SOL’s muted response showed that the activity had yet to produce enough demand for a decisive price breakout.

Solana’s weekly transactions hit record 1.01 billion

Blockworks Analytics data showed Solana processed 1,012,266,009 non-vote transactions between July 27 and Aug. 2, 2026, setting a new weekly record. Because the metric excludes validator votes, it better captures transactions generated by users, applications, and automated systems.

The total confirms heavier network usage, but it does not show transaction value, unique users, or the share generated by automated systems. Those limits make it difficult to link the record directly to spot demand for SOL, which remains near $74.

SOL’s price holds above key MAs

The four-hour Binance chart showed SOL at $74.14 and the 14-period relative strength index (RSI) at 55.99. An RSI reading above 50 indicates improving momentum after SOL’s Aug. 1 drop toward $71. At 55.99, the indicator remained below the 70 threshold commonly associated with overbought conditions.

At the time of writing, the 12 tracked simple and exponential moving averages (EMAs) ranged from $73.24 to $74.00. With SOL trading at $74.08, the token remained above each listed average.

The daily moving average convergence/divergence (MACD) remained weaker. The MACD line was -0.72, below its -0.60 signal line, while the histogram stayed negative at -0.13. The split between the four-hour and daily readings leaves the rebound unconfirmed.

Solana ETF inflows remain positive but limited

SoSoValue data showed US spot SOL exchange-traded funds (ETFs) recorded $1 million in net inflows on Aug. 4, with the full amount going to Morgan Stanley’s MSOL. Cumulative inflows reached $1.15 billion, while net assets stood at $875.26 million, equal to 2.03% of SOL’s market capitalization.

Weekly net inflows slowed to $2.82 million in the week ending July 31 from $7.20 million a week earlier. SOL remains between support near $72 and the $78-$80 resistance zone that blocked its July advance.