Solana Rallies Above Downtrend, Targets $100 as Institutional Demand Surges

Solana has shown resilience in the face of market volatility, trading near $80 after a significant recovery. The token's price has been bolstered by institutional inflows, stronger network activity, and improving chart signals.

According to CoinShares data, Solana-linked products recorded about $31 million in weekly net inflows. Meanwhile, crypto exchange-traded products saw $173 million in total net outflows, with Bitcoin products accounting for most of those withdrawals during the same week.

Solana's market capitalization has also increased from $122.4 billion to $129.1 billion over the past week. Its ecosystem has shown a rise in total market value as well. The token's recent move above its 21-day moving average and breaking a year-long downtrend against Bitcoin is seen as a positive sign by analyst Michaël van de Poppe.