Solana completed its monthly closing in positives for the first time in nine months. This rise, which came after a long correction period, pointed out a possible change in the perception in the market. Cryptocurrency analyst Ash Crypto noted that SOL has risen 38% since its $60 low, adding approximately $14 billion to its market cap.
Nine-month falling streak ends
SOL, which has been under intense selling pressure in recent months, broke its nine-month red candle series with the last close. After the price dropped to around $60, investor interest was seen to gain strength again. Although this chart did not confirm a new upward cycle on its own, it did point to a recovery in the short-term outlook.
Ash Crypto highlights that SOL created a green candle on a monthly basis for the first time in nine months, recovering 38% from the $60 low and adding approximately $14 billion to market cap.
Solana is known as a blockchain network focused on high transaction capacity and low fees. The network stands out especially with its use in decentralized finance and token-based applications. The recent recovery in price is judged not only by the technical outlook but also by activity on the network.
Network data supports recovery
The rise in SOL coincided with ongoing on-chain growth in the ecosystem. Recent blockchain data has shown an increase in transaction activity, broader participation in decentralized finance and a rise in stablecoin transfers. This outlook indicated that network usage remained resilient even during periods when price performance remained weak.
Mini-dictionary: On-chain data refers to measurements taken directly from the network, such as transactions occurring on a blockchain network, user movements, and asset flows. This data is used to monitor the actual level of usage regardless of price movement.
In cryptocurrency markets, price movements and network fundamentals may not always move in the same direction. While token prices are affected by broader macroeconomic conditions, continued user activity can support longer-term confidence. For this reason, investors closely monitor not only the price but also the liveliness on the usage side.
Corporate interest continues around Solana
Solana continued to remain on the agenda on the corporate side throughout 2026. Asset management companies are advancing spot Solana ETF applications in the US, while payment providers, tokenization startups and decentralized finance platforms have expanded network support. These developments demonstrated continued professional interest in the Solana ecosystem.
Approval has not yet been given for the spot Solana ETF in the USA. Despite this, ongoing applications keep the attention of institutional investors on the Solana network. Analysts evaluate that regulatory clarity will be one of the main topics in terms of capital flows that may enter the ecosystem in the coming period.
A single green monthly candle does not indicate the beginning of a persistent uptrend. Market participants are watching to see if SOL can form higher monthly lows and provide support above recent recovery levels.
In the coming period, investors will focus on on-chain metrics, developer activity, developments in ETF applications and general cryptocurrency market conditions. If ecosystem growth continues along with the improvement in market perception, Solana can be expected to further strengthen its position among the leading smart contract platforms.
