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Solana [$SOL] holders have doubled down on the altcoin and increased exposure to a record high of 166.9 million $SOL.
According to Token Terminal data, the latest record ownership meant that $SOL was the fourth-largest held L1 token, ranking behind Binance [BNB], Ethereum [ETH], and Tron [TRX].
At the end of 2025, $SOL had 154.2 million unique holders, implying the current ownership has increased by 8.2% in Q1 2026.
By extension, this also meant there was a strong interest in the altcoin among holders during the crypto rout. Since the October crash, $SOL’s price has declined from $224 to $84, marking a 63% drawdown. Over the same period, token holders surged 12% from 148.9 million to the current all-time high of 166.9 million.
While this is a bullish signal, the pace of outflows from the token has remained subdued on the price charts.
$SOL outflows hit $18 billion
A key factor in gauging $SOL’s sentiment is through the Realized Cap, which tracks capital inflows into the asset.
Since last October, the metric has dropped from a record $96.9 billion to $78.5 billion, a whopping $18.2 billion in capital outflows from $SOL.
Although the metric is a lagging indicator, past rebounds marked local and cycle bottoms, followed by a sustained rally. At the time of writing, the metric was yet to print a reversal sign despite $SOL consolidating recent losses around the $75-$93 price range.
In other words, capital inflows were not strong enough to lift $SOL’s price despite having record token holders. But all is not lost. According to CoinShares, Solana and $XRP led last week’s altcoin inflows. $SOL’s inflows stood at $34.9 million, marking nearly a 4x gap against $XRP’s $120 million.
If $XRP continues to attract 4x capital inflows than $SOL, the former could front a stronger rebound than the latter.
Meanwhile, $SOL’s price surged about 7%, rising from $78 to $87 after the Iran ceasefire offered broader market relief. If the bidding extends into the weekend, the mid-range of $85 could be reclaimed, offering a pathway to the range high of $90-$93 or a 9% potential gain.
However, the altcoin could slip back to $77 if momentum fades.
Final Summary
- $SOL token holders hit an all-time high of about 167 million in April, marking a 12% increase since last October.
- However, the altcoin saw $18.2 billion in capital outflows in the past few months, which has reduced the odds of a sustainable price recovery.