Solana Surges 6.18% as TVL Hits $8.6 Billion, Whale Accumulation Rises

Solana's latest price was $187.31, up 6.183% in the last 24 hours. Solana’s ecosystem has seen significant growth in the past year, with its Total Value Locked (TVL) reaching a new high of $8.6 billion in Q2 2025, an increase of over 30% from the previous quarter. This growth is attributed to Solana’s protocol fundamentals, including the development of the “Alopenglow” consensus, which has played a crucial role in its expansion. As a result, Solana is now ranked the second-largest DeFi network by TVL.

Solana’s network data showed continued expansion, with the mainnet briefly processing more than 107,000 transactions per second, marking a new high according to network trackers. Much of the activity came from “noop” program calls, which are lightweight instructions often used to stress-test capacity. This performance underscored Solana’s ability to handle high throughput under test conditions. At the same time, whale accumulation increased, with the number of wallets holding more than 10,000 SOL reaching an all-time high. This accumulation suggested that large holders were continuing to expand their positions despite mixed short-term signals. Analysts noted that whale behavior often reflects confidence in the broader network even during consolidation.

Solana’s Spent Output Profit Ratio (SOPR) stood at 0.9988 on August 18, indicating that tokens were moving at a loss. Earlier in August, SOPR readings above 1 reflected profit-taking during a brief rally above $200. The decline to below 1 showed that sellers were accepting small losses at press time. This shift suggested a consolidation phase around breakeven levels. Market analyst Ali Martinez said that if resistance near $190 held, Solana could fall back toward $180 or even $160. Both levels acted as support during earlier pullbacks. Analysts noted that this dynamic left Solana trading between a firm support zone and a critical resistance level. The consolidation came after a sharp move earlier in the month, with price action since then slowing, and buyers and sellers struggling to break the current range.

Solana’s daily chart showed that SOL price followed an ascending triangle pattern, which is a bullish continuation structure that forms when price tests a horizontal resistance while trending upward along a rising support line. Analyst Jonathan Carter noted that Solana had retested the $185–$190 zone after a failed breakout earlier this month. He noted that a confirmed move above this level could validate the bullish structure and allow for higher targets, including $205, $225, and $268. On the downside, support held around $165, reinforced by the 100-day moving average. Analysts said that a break below this level could weaken the structure and pressure buyers. Momentum indicators pointed to room for more gains, with the Relative Strength Index (RSI) in the middle range at the time of writing. Mid-range readings suggested there was space for further upside before conditions turned overheated. Volume patterns added to the picture, with data showing trading activity was stronger during upward price moves, suggesting more participation when the Solana price advanced. Analysts considered this a constructive factor for the ongoing consolidation.

Solana’s price remained at a crossroads, with a confirmed breakout above $190 opening the way toward higher targets, including $205 and $225. Failure to clear resistance may extend consolidation and push price back toward $165 support. On-chain readings indicated modest selling pressure, while technical indicators suggested more room for upward movement. Strong whale accumulation and high network throughput added support to the long-term picture. The next move for SOL depended on whether resistance at $190 gave way or continued to hold. Analysts said these levels would guide short-term momentum in the weeks ahead.

Solana’s price action has been trading sideways despite hitting an all-time high of $293 in January 2025. Due to the prolonged volatility and price fluctuations, many had presumed the popular altcoin dead. However, the charts suggest otherwise. Jonathan Carter, a crypto market technician, highlighted a compelling structure on the Solana daily chart, pointing out that the altcoin’s price is currently retesting the upper boundary of a long-formed Ascending Triangle. This retest comes after a previous false breakout, which initially trapped bulls and sent Solana back into consolidation. This time, however, the setup appears more promising, with SOL finding consistent support along its ascending trendline while gradually settling against resistance. Carter noted that Solana’s daily structure shows clear resistance zones around the $180 – $185 levels, which have capped price advances several times throughout the year. A confirmed bounce from the region could open the door for SOL to reclaim higher targets at $205 and $225, with an eventual breakout setting up a run toward $268. With the altcoin currently sitting at $181, a surge to these upper targets would represent a solid increase of 13.26%, 24.31%, and 48.07%, respectively. Based on the analyst’s chart, the presence of the 100-day Moving Average (MA) just below current levels provides additional confirmation for a potential bullish reversal. At the same time, volume patterns suggest growing interest in accumulation. For now, Carter highlights that Solana’s price remains range–bound between $165 and $190. However, the tightening structure of the Ascending Triangle signals that a breakout may be near. If buyers manage to defend the current zone, Solana’s recovery could become potentially stronger, particularly considering its history of sharp rallies once market conditions improve and resistance levels are cleared.

Crypto analyst Ali Martinez has also shared insights on Solana’s price action, predicting that the altcoin may experience a temporary pullback before staging its next rally. His 8-hour chart suggests that SOL, could face downside pressure that brings the price closer to $160. This projected correction would not necessarily invalidate Solana’s bullish thesis; instead, Martinez asserts that it could present an opportunity for strategic buyers to accumulate before the next upward leg. The analyst identifies the $160 region as a key support area where buyers will likely prevent further price declines. In this context, Solana’s projected weakness could act as a springboard for a stronger rebound.

The August 20 Solana whale transfer involved 1,000,000 SOL leaving Binance, a move consistent with an institutional or high‑net‑worth buy strategy. On‑chain traces point to a newly created receiving wallet, suggesting accumulation rather than exchange outflow or sale. The transfer was valued at approximately $181 million, and on‑chain trackers and market data showed a same‑day SOL rebound. This move hinted at accumulation and reflected confidence in the broader network even during consolidation.

Recent analyses have highlighted Solana's technological advancements, with an AI model emphasizing its high-speed blockchain capabilities and scalability as key drivers for increased adoption. The model pointed to rising interest in decentralized applications built on the network, noting that Solana's performance efficiencies are attracting development activity and user engagement, reinforcing its position in the ecosystem despite market volatility.

Solana achieved a notable network milestone, with reports indicating a historic event involving high transaction throughput. This demonstrates the blockchain's continued operational resilience and capacity to handle significant activity, reflecting ongoing improvements in its infrastructure that support broader utility and reliability for developers and users.

Adoption growth is evident through applications like Raydium and Kamino, which are driving decentralized finance activities on Solana. Despite challenges in the wider cryptocurrency landscape, institutional demand for Solana-based solutions has surged, pointing to growing confidence in the network's long-term potential and its expanding role in enabling innovative financial tools and services.