Solana climbed 9% over the past week, touching as high as $114 and breaking above key resistance. Fresh ETF inflows and record on-chain activity suggest the move goes beyond the broader altcoin rotation heading into October.
Large-cap altcoins are led by Solana's 9% weekly gain, surging to as high as $114 and breaking above key resistance. Bitcoin reclaimed $80,000 over the same stretch, yet Solana's outperformance points to demand beyond a simple market-wide rotation.
Solana outpaces the broader altcoin rotation
The SOL/ETH ratio is also up 4%, signaling stronger relative demand for Solana versus Ethereum. TOTAL3, the combined market cap of altcoins outside Bitcoin and Ethereum, moved back above $800 billion for the first time in more than eight months, while 70% of Binance-listed altcoins are now trading above their 200-day moving average.
But the technical setup suggests Solana carries its own catalyst rather than just riding the rotation. The SOL/BTC ratio is up more than 4%, and Solana dominance broke above 2.3% just as Bitcoin dominance struggles near 60%.
ETF inflows and record network activity signal fresh demand
According to SoSoValue, U.S. spot Solana ETFs recorded $47.62 million in net inflows on September 18, with the entire inflow coming through the BSOL ETF. This suggests the move is being supported by fresh demand, not just a rotation from other altcoins.
Blockworks data shows the Solana network reached an all-time high of 5.2 billion non-vote transactions in August, a 19% increase over the previous record set in July. Memecoin-related activity also contributed, with weekly spot volume reaching $5.2 billion, the highest since November 2025.
Growing dominance, stronger relative performance, fresh institutional inflows, and record network activity together give Solana fuel to extend its rally into October.
Source: AMBCrypto
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