Solana's Week. A Trip to $98.65, an ETF Market Measured in Millions Not Hundreds of Millions, and an Upgrade Still Waiting to Go Live

SOL closed trading on Tuesday at $103.37, and as of the end of trading on Monday, SOL was trading around $101.50. On Tuesday, SOL touched a low that hadn't been seen in weeks as it fell to $99; however, it proceeded to recover most of those losses in the following trading session. SOL spent the whole week waiting on the promised network upgrade. Here are the week's events.

Between Tuesday and Wednesday, 8 and 9 September:

SOL closed at $103.37 on Tuesday, dropping 0.43% and continuing to drop to $101.61 on Wednesday, -1.70%. There was very little movement with ETFs compared to what there was with Bitcoin and Ether. There was a $0.7 million outflow from the ETFs on Tuesday, while Wednesday saw an inflow of $11.2 million, the category's best day, although the dollar amount was insignificant compared to what moving millions of both Bitcoin and Ether did.

Thursday, 10 September: a multi-week low

SOL went to $98.65, falling 2.91% to close at its lowest level of the week. ETF flows continued to be negative at $0.5 million out, continuing the pattern of 2 out of the 3 days having negative flows this week.

Friday, 11 September: the CPI spike lifts SOL back above $100

The CPI report that propelled gains for Bitcoin and Ether also lifted SOL. SOL settled at $102.45, a 3.85% gain after falling to near $98.40 earlier in the day, close to Thursday's low. The ETF category continued to be negative in SOL price action, with a $0.3 million outflow, continuing the disconnect of SOL's category from its own price action.

Solana's price path, 8 to 14 September 2026, built from verified data points cited in Investing.

Solana's (SOL) price continued to slide throughout the weekend of 12-13 September. It closed on Saturday at $101.76 (down 0.67%) and $100.68 (down 1.07%) on Sunday. The same firming Fed-hike expectations weighing on Bitcoin and Ether also caught up with SOL.

Monday 14 September

On Monday, SOL began to recover and traded at $101.50, putting some of the weekend losses behind. One tracker put the week's overall decline at roughly 2.2%, compared to Bitcoin's more significant week-long losses.

US spot Solana ETF net daily flows, 8 to 11 September 2026. Built from verified data cited directly from Farside Investors' live flow table.

A network upgrade that isn't activated yet.

The biggest non-price-related news of the week came out of the tech space with Solana's TXN v1 (Transaction v1). TXN v1 would allow SOL's blockchain to process transactions of up to 4,096 bytes, nearly triple the current maximum transaction size of 1,232 bytes. The larger transaction size would give developers room to fit large zero-knowledge proofs, multisignature approvals, and confidential transfers into a single atomic transaction. Both TXN v1 proposals, SIMD-0296 and SIMD-0385, have been available on Solana's testnet for a month, yet still have not been activated. As of the end of this report's window, it is expected that TXN v1 will be activated on Tuesday, 15 September.

Defining moments

Thursday and half of Friday defied the $100 benchmark until the CPI release pushed momentum in SOL’s favor, placing it above $100 for the remainder of the session. $98.40 (intraday lows) established, as expected, the floor for the week. $103.37, Tuesday's level, remained the ceiling that nothing matched afterward. As a fraction of the size of bitcoin or ether’s ETFs, SOL’s daily fund flows are barely noticeable and have negligible effect on price. As such, SOL's price action this week was more correlated with broader macro conditions affecting the crypto market than with ETF flows.