“Solana is not just about meme coins; it is a fundamental network that continues to grow despite the token’s price,” analysts conclude, assessing SOL’s current position at $86. Although the coin has fallen 71% from its all-time high of $294 reached in January 2025, the network is showing record activity metrics, outpacing Ethereum in transaction volume.

Moreover, the main reason for the prolonged decline was the outflow of institutional capital: monthly SOL ETF inflows dropped from $419 million in November to a modest $34 million in April 2026. Pressure was also added by macroeconomic factors, including the Bank of Japan’s rate hike, and the postponement of the long-awaited Alpenglow upgrade to the end of the year, which triggered the departure of some developers.

As experts note, “The gap between actual network usage and the asset price is currently massive: in February, Solana processed a volume of $650 billion, surpassing Ethereum’s figures.” However, analysts further specified that a quick return to the all-time high should not be expected — a more realistic target by year-end appears to be the $130–$150 range, provided the upgrade launches successfully and ETF inflows stabilize.