Solana has recorded an increase of over 3% in the past 21 hours, driven by continuous institutional capital inflows and robust network ecosystem development. The momentum behind this rally comes from multiple directions.

From the institutional side, Solana ETFs have attracted significant capital attention. Data shows that daily capital inflows have exceeded $10 million, with total assets under management reaching $1.14 billion. Recently, major financial institutions have officially submitted applications for Solana ETFs, which undoubtedly indicates growing confidence from traditional capital in this blockchain.

On the ecosystem level, performance is equally impressive. DeFi and DEX activity continues to rise, with total value locked surpassing $9 billion, and weekly trading volume soaring by 23%. Meanwhile, the launch of native AI tools is attracting more developers to innovate and deploy on Solana.

Technical indicators show clear bullish signals. SOL’s short-term EMA (7-day moving average) remains above the medium-term (25-day) and long-term (99-day) moving averages. The MACD indicator shows positive momentum, and the histogram remains in the positive zone. These features typically suggest the continuation of upward momentum.

However, some risks should also be noted. The decentralization of Solana’s validator network faces pressure — over 51% of the stake is still operated on outdated client versions, and the number of active validators has decreased by 42% over the past year. Although the team has released emergency security patches, such risks cannot be ignored. Additionally, there are bearish voices within the community; some traders have established short positions with target prices even as low as $90, clearly indicating perceived downside risks. Capital flows also fluctuate; while there are occasional large net inflows, overall performance in the past 24 hours has been unstable, with some periods showing significant outflows.