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Points of Focus
- SOL traded at $76.93, up 6.2% in seven days, with resistance near $78.
- Solana stablecoin supply reached $16.7 billion after rising roughly 11x in three years.
- US spot Solana ETF assets held near $870 million as daily flows stalled on Aug. 7.
Solana traded at $76.93 on Monday, up 6.2% over the past seven days, alongside rising network liquidity and a sizable US ETF asset base. Stablecoin supply has reached $16.7 billion, while US spot Solana ETFs hold about $870 million in net assets. SOL is now approaching resistance near $78, a level that remains the next test for the recovery.
Solana stablecoin supply reaches $16.7B as transfer volume tops $500B
Artemis data show Solana’s stablecoin supply has grown from about $1.5 billion to $16.7 billion over the past three years, an increase of roughly 11 times. The broader stablecoin market expanded about 2.5 times over the same period, leaving Solana’s stablecoin base well ahead of the market’s pace of expansion. The network also handled more than $500 billion in gross stablecoin transfer volume in July.
Solana’s stablecoin supply climbed from $1.5B to $16.7B in 3 years
The overall stablecoin market grew 2.5x
Solana grew 11xIt’s now among the top 3 networks by stablecoin supply, with over $500B in gross transfer volume in July.
More capital. More movement.
Source: @artemis pic.twitter.com/z9YZBk88bH
— Sailor (@solana_sailor) August 9, 2026
That growth strengthens Solana’s liquidity base, but it doesn’t translate one-for-one into demand for SOL. Stablecoins are used across exchanges, lending markets, payments and DeFi protocols, where capital can circulate without requiring equivalent purchases of the native token. SOL has yet to match that expansion in network liquidity, trading below $80 and testing resistance near $78.
Solana ETF assets near $870M as $78 resistance caps SOL price
US spot Solana ETFs provide a separate gauge of regulated investor exposure, though recent flows have been subdued. SoSoValue put US spot Solana ETF net assets near $869.97 million on Aug. 7. For context, the Solana Foundation reported about $1.13 billion in spot ETF AUM at the end of May, so the current asset base remains below that earlier level. Farside Investors recorded no net flow on Aug. 7 after a $0.9 million outflow on Aug. 6, with cumulative flows near $1.12 billion.
The muted ETF flows shift attention back to the $78 technical level. Analyst Ali Martinez placed SOL inside a parallel channel and identified the mid-range near $78 as the breakout threshold, with the channel’s upper boundary near $100. His Aug. 9 analysis also flagged a MACD golden cross, but the $100 level remains conditional on SOL first breaking the mid-range.
2/5 Solana appears to be trading within a parallel channel.
A break above the mid-range near $78 could trigger a move toward the channel’s upper boundary around $100 for $SOL. pic.twitter.com/c0fU5BTmgp
— Ali Charts (@alicharts) August 9, 2026
At $76.93, SOL was trading less than 2% below $78, while Martinez’s Aug. 9 chart placed the next resistance line at $78.70.
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