Crypto
Solana Overtakes BNB in TVL While ETFs Record Inflows: What's Next?
Solana beat BNB Chain in TVL, while growing institutional interest hints that more upside is on the horizon, but conditions apply.
10d ago 4,280
BLOCKINSIDERLoadingSolana beat BNB Chain in TVL, while growing institutional interest hints that more upside is on the horizon, but conditions apply.
Amid ongoing market recovery, Solana is garnering widespread attention from the crypto community as the network overtook BNB Chain in terms of Total Value Locked (TVL), signaling growing ecosystem adoption. Today, July 21, 2026, analytics tool DeFiLlama revealed that Solana TVL had reached $4.98 billion, surpassing BNB Chain’s $4.93 billion TVL value.
Meanwhile, this momentum is not only limited to the network alone, as the U.S. spot Solana Exchange-Traded Funds (ETFs) also recorded inflows for the second consecutive day, further strengthening the positive market sentiment.
Data from analytics platform SoSoValue reveals that the U.S. spot Solana ETFs on July 20, 2026, have recorded an inflow of $2.64 million following the $1.66 million inflow recorded on July 16, 2026. This continuous inflow in SOL ETFs suggests growing institutional interest in the asset.
Following these developments alongside market recovery, SOL jumped a modest 2.65% and was trading at $78.40. In fact, market participants also appear to be supporting this upside momentum, as the asset’s trading volume jumped 26% to $2.02 billion over the past 24 hours.
Rising volume with price suggests that traders and investors might be interested in the current recovery trend.
Now, looking at these developments, investors and market participants might be wondering what's next for the SOL price and whether this adoption will help uplift the asset or if it will remain sideways.
According to the TradingView daily chart, SOL's short-term bias appears bullish, as the asset has successfully reversed from the key support of an ascending channel pattern and is poised to continue its upward move in the upcoming days.
Based on current price action, if SOL remains above $73.15, this bullish outlook remains intact. In this scenario, the asset has a strong possibility to gain 13.50% in the coming days and may reach the $89 level.
However, SOL sentiment could only shift if the price falls below the $73.15 level, or breaks down the ascending channel pattern. In this case, the asset could see a price dip of $9.15% and may reach the $67.60 level.
Despite the price recovery from the key support, SOL’s Average Directional Index (ADX) reads 12.96, below the key threshold of 25, indicating the asset has weaker trend strength. Other than that, the 200-day Exponential Moving Average (EMA) remains above the SOL price, indicating broader bearish sentiment and sellers' dominance in the asset.
Besides this price action, a well-followed crypto analyst also shared an optimistic post on X, noting that SOL remains in a rising channel pattern, and if the asset holds the key support of the pattern, the asset could reach the top of the channel near the $93 level.
This post hints that market sentiment for SOL is getting bullish, and it is likely to continue this upward momentum in the coming days.
Looking at the derivative datasets, it appears that traders follow the current market recovery. As per CoinGlass, the SOL long/short ratio reads 1.08, indicating bullish sentiment among traders. Whereas traders on Binance are strongly betting on long positions, as its long/short ratio climbs to 2.2648, meaning for every 2.2648 long bets there is a single short position.
Meanwhile, SOL's OI-weighted funding rate turned positive at +0.0058%, indicating that long-position holders are paying shorts, reflecting growing bullish sentiment.
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