Key Takeaways
- SOL has fallen beneath the $80 threshold following rejection at $85 resistance
- Price touched $78.30 on the downside; critical support zones include $75 and $70
- The network processed an unprecedented 10.1 billion transactions during Q1 2026, marking a 50% quarterly increase
- Solana’s stablecoin transaction volume reached $650 billion in February 2026
- Galaxy Digital’s tokenized equity can now be leveraged as collateral in Solana’s DeFi ecosystem through Kamino
The Solana (SOL) token is currently changing hands under the $80 mark following a recent selloff that pulled prices down from $86.63. This decline occurred after the asset broke through an ascending trend line that had previously provided support around the $81.50 zone on shorter timeframes.
The cryptocurrency established a session low at $78.30. Currently, SOL is positioned beneath the psychological $80 barrier and its 100-hour simple moving average.
The nearest resistance level stands at $80.25, with a more significant barrier at $82.50—a level that corresponds with the 50% Fibonacci retracement from the latest downward movement. Bulls would need to reclaim the $85 area to improve the near-term outlook.
Should support at $78 fail to hold, the next line of defense emerges at $75. Breakdown below this zone could expose the $70 level, with further downside potentially reaching $62 if bearish momentum intensifies.
Blockchain Usage Reaches Unprecedented Levels
While price action remains subdued, Solana’s on-chain metrics achieved remarkable milestones during the first quarter of 2026. The blockchain processed 10.1 billion transactions in Q1, establishing a new quarterly record according to Artemis analytics. This figure represents approximately a 50% surge compared to Q4 2025 numbers.
Token Terminal data indicates the platform concluded March with 2.4 million active addresses.
This transaction explosion stems primarily from expanding DeFi operations and increasing real-world asset integration. According to The Kobeissi Letter, Solana facilitated $650 billion in stablecoin transfers during February 2026 alone—a near-tripling from the previous month.
Institutional adoption has accelerated in parallel with this usage growth. Cryptocurrency liquidity provider B2C2 designated Solana as its primary infrastructure for institutional stablecoin clearing. CEO Thomas Restout commented: “Solana has earned its place as fundamental financial infrastructure… This is where settlement is heading.”
Galaxy Digital Pioneers Tokenized Stock Integration on Solana
Galaxy Digital achieved a milestone by becoming the inaugural NASDAQ-traded entity to tokenize company shares on a public distributed ledger. Through collaboration with Superstate and the Kamino lending platform, qualified participants can now pledge tokenized GLXY equity as collateral to access stablecoin loans such as USDC.
Staking is now live on @galaxyoneapp.
Powered by $GLXY institutional validator infrastructure, one of the largest Solana validator operations globally, eligible clients can now stake $SOL and earn up to an estimated 6.50% in variable staking rewards with no platform commission… pic.twitter.com/Njdu01sH4N
— Galaxy (@galaxyhq) March 31, 2026
With more than $2 billion in Total Value Locked, Kamino represents Solana’s dominant lending protocol.
This innovation enables shareholders to unlock capital while maintaining equity positions. Qualified non-US investors can access this functionality through Superstate Market’s integration with Kamino.
At present, SOL trades beneath the $80 level with crucial support at $75 and overhead resistance positioned at $82.50.
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