SOL hits record $137B Market Cap while price momentum lags behind. Explore Solana’s supply-driven growth story with our latest analysis.
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0.6%
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SOL Hits Record $137B Market Cap While Price Momentum Lags Behind
SOL hits record $137B Market Cap while price momentum lags behind. Explore Solana’s supply-driven growth story with our latest analysis
Published: Sep 24, 2025 at 10:35 AM
Updated: Sep 22, 2025 at 08:10 PM
Posted by
by Patrick Kariuki
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Solana’s market cap reached $137B while price remains 15% below all-time high.
Nearly 67% of SOL supply is staked, tightening available tokens for trading.
Gradually declining inflation and minimal unlocks strengthen Solana’s long-term supply dynamics.
Recently, Solana’s SOL shocked the market. The token reached $250 for the first time since Q1, sending the network’s market cap to an unprecedented $137 billion. Traders marvel at this milestone because the price still sits 15 percent below the all-time high. This striking gap between value and price feels like a puzzle waiting to be solved. Behind the scenes, powerful supply dynamics are shaping a story of scarcity and strength.
Supply Mechanics Drive a Surprising Surge
Nearly 89 percent of Solana’s total supply—about 543 million SOL—already trades freely. Only a small 11 percent remains locked or reserved. Earlier this year, a massive 11.16 million SOL unlock tied to FTX cleared a heavy cloud. Since then, the remaining monthly unlocks average a mere 12.7 thousand tokens. That trickle barely moves the market. With the largest supply risks gone, demand commands the stage. Traders see a setup where a sudden shortage could spark dramatic moves.
Like a tide pulling back before a wave, Solana’s circulating supply creates anticipation for a powerful rise. Meanwhile, the network proves resilient. Despite the price lag, Solana delivered a 55 percent return in Q3 and broke key resistance levels. Investors who doubted the chain now watch growing adoption with renewed interest. The market cap’s strength signals more than speculation. It reflects a network absorbing supply shocks while inviting new participants.
On-Chain Signals Show Structural Strength
Deeper on-chain data strengthens this narrative. Staking recently climbed to a record 410 million SOL, locking nearly 67 percent of total tokens. Such commitment removes vast amounts from exchanges, tightening available supply. Annual inflation sits near 4.279 percent and will gradually decline, adding another layer of scarcity. This environment feels like a marketplace where buyers compete for fewer seats.
Orders stack in a bid-heavy profile, pushing against the thin wall of remaining liquidity. The effect resembles a coiled spring, ready to release energy when demand spikes. Solana’s Q3 rally already highlights a classic supply shock. Strong staking, tapering inflation, and the dwindling unlock schedule create a foundation that supports price even without new highs. Network fundamentals now carry more weight than daily swings.
Investors eye these signals and sense opportunity. The market cap no longer reflects simple price action. Instead, it mirrors deep adoption and efficient supply absorption. That combination builds confidence in Solana’s structural health and long-term potential. For traders, the current pause may feel like calm before a storm. With fundamentals this robust, the next chapter could reward patience. Solana shows that lasting value comes from strong mechanics, not short-lived hype.
