Institutional Accumulation Emerges as Solana Tests Key Support

While Solana's price hovers near a two-year low, a stark divergence is unfolding between retail sentiment and institutional action. Recent regulatory filings reveal that Goldman Sachs has established a significant position in Solana investment products, signaling a major strategic diversification beyond Bitcoin and Ethereum.

Documents dated February 11, 2026, show that the Wall Street giant has built an exposure of approximately $108 million. This move comes during a broad market correction and contrasts sharply with the prevailing negative sentiment. The allocation is split across vehicles, with $45.4 million directed to the Bitwise Solana ETF and $35.7 million to the Grayscale Solana Trust.

This institutional accumulation occurred even as SOL declined over 4% to around $82 on the spot market that Wednesday. Further evidence of professional interest came from data on the preceding Tuesday, which indicated U.S. spot ETFs for the asset saw net inflows of $8.43 million despite falling prices.

Fundamental Metrics Tell a Different Story

Beneath the surface price pressure, key network activity metrics show resilience. The total value of stablecoins on the Solana blockchain has grown by roughly 14% over the past week, reaching $15.34 billion. This increase is viewed as a critical indicator of rising liquidity and utility within the ecosystem.

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Adding to this fundamental strength is a surge in automated transactions. Data indicates that autonomous AI agents have recently executed more than 38 million transactions. Market experts interpret this activity as a sign that core network usage is becoming increasingly decoupled from pure speculative trading.

Technical Picture at a Critical Juncture

From a chart perspective, SOL is testing crucial support. The $80 level represents a significant technical and psychological barrier. A sustained breakdown below this zone could open the path toward lower price targets near $75 or even $64.

However, momentum indicators suggest the sell-off may be overextended in the short term. The Relative Strength Index (RSI) is currently reading 27, placing it in oversold territory and potentially setting the stage for a technical rebound. The current market phase is defined by this tension between poor retail sentiment and confirmed accumulation by major financial institutions. The immediate question is whether this institutional demand will be sufficient to defend the $80 support level.