SOL is expected to hit a new all-time high, supported by institutional demand and on-chain metrics.

Solana (SOL) price rose on Monday—the day this article was written—breaking out of its prior horizontal channel, with bulls targeting a new all-time high. On-chain and derivatives data paint a bullish picture: surging on-chain activity, record-high open interest, and growing institutional holdings suggest further upside this week. Solana’s on-chain and derivatives data signal strengthening bullish momentum According to DeFi intelligence tracker DefiLlama, Solana’s total value locked (TVL) reached an all-time high (ATH) of $13.22 billion on Sunday. This TVL growth reflects increasing activity and interest within the Solana ecosystem, indicating more users are depositing or utilizing assets in SOL-based protocols. Artemis Terminal data further hints at bullish prospects: stablecoin supply on the network surged by over $255 million in the past 24 hours—the largest increase among major blockchains. SOL outperformed competitors such as Arbitrum (ARB) and Aptos (APT), underscoring rising demand and a strengthening ecosystem. On the derivatives front, Solana continues to gain strength. CoinGlass data shows Solana futures open interest (OI) across exchanges hit a record high of $16.58 billion on Monday. Rising open interest signals fresh or additional capital entering the market—and new buying pressure—which may drive SOL’s current price higher. Solana’s CoinGlass long/short ratio reached 1.08 on Monday, its highest level in over a month. A ratio above 1 reflects bullish market sentiment, as more traders bet on SOL’s price appreciation. Institutional demand supports further SOL upside Institutional demand for Solana continued strengthening last week. Forward Industries announced on Thursday that it had completed a $1.65 billion private investment in public equity (PIPE) transaction, co-led by Galaxy Digital (Galaxy), Jump Crypto, and Multicoin Capital (Multicoin).

Has SOL stirred again—and is it poised to reach a new all-time high?

In short: ・ Solana’s price rebounded after a sharp decline in 2022. ・ Recent ETF filings have boosted market interest in Solana. ・ Solana’s market capitalization and trading volume have surged significantly. In 2022, following the FTX incident, attention shifted toward Solana. During this period, Solana’s price plunged dramatically—to just $8. After this steep drop, despite widespread belief across the broader market that Solana was ‘dead,’ its price rebounded by year-end 2023 and broke above $100. SOL did not stop there: during March’s meme coin frenzy, it surpassed $200—hinting at its previous all-time high. So, where does Solana stand now? Solana’s ETF filings Solana (SOL) recently drew attention after filing for an ETF in Canada. Subsequently, VanEck submitted an application to the U.S. Securities and Exchange Commission (SEC), generating significant buzz. The existing upward momentum in Bitcoin also created a positive spillover effect for other altcoins, resulting in modest gains for long positions. The overall cryptocurrency market rose 0.67% to $2.29 trillion, while Solana’s price surged over 8%. Although Solana’s price rose following the ETF news, the rest of the market pulled back. Bitcoin’s upward momentum appeared to reverse, retreating to the $61,500 level. Solana’s price is rising After gaining over the past 24 hours, Solana’s price broke above the $150 level—but subsequently pulled back slightly.