Solana

Solana (SOL) moved back above $90 as a mini golden cross appeared on its chart, extending its seven-day gain to 3.71%. The token was last quoted at $90.76, up 0.47% over 24 hours, while trading volume fell 27.33% to $2.57 billion. TVL also edged higher to $6.903 billion and RWA tokenization on Solana topped $1.8 billion.

Solana's tokenized real-world asset market has reached $1.82 billion, but SOL showed little movement. As of March 21, 2026 (09:02 UTC), SOL was priced at $89.96 (–0.04% weekly). The report also points to resistance near $95–$100 as a key level that could influence the next move.

Wintermute CEO Evgeny Gaevoy argues that neither Ethereum nor Solana has built a durable competitive moat, despite Ethereum's $56 billion DeFi TVL versus Solana's $6.8 billion out of a $95.3 billion market total. He points to Hyperliquid's rise as evidence that newer venues can quickly capture activity, with Hyperliquid holding 45% of generated fee revenue while TRON has 20%, Solana 13%, BNB Chain 10%, and Ethereum 7%.

Bitcoin hovered around $69,800 as a record $7.1 trillion notional options expiry hit markets, with roughly $5 trillion tied to the S&P 500 and $880 billion to single stocks. Crypto sentiment was weak heading into Friday, with the Fear and Greed Index at 30 after a recent low of 23. The week’s event risk also includes $13.5 billion in crypto derivatives expiring on Deribit on March 27 and recent spot Bitcoin ETF outflows led by IBIT and FBTC.

Solana's tokenized-asset segment is growing even as SOL trades below the $100 level, with RWA value rising to over $1.8 billion and active DeFi TVL reaching $465 million. Ondo Finance is expanding tokenized equities on Solana by adding 50+ stocks and ETFs, lifting Ondo Global Markets listings to more than 250. The data suggests a larger share of on-chain liquidity is being deployed into RWAs through DeFi rather than sitting idle.

Altcoins finished the week with modest gains led by XRP (+2.98% to about $1.43), while ETH rose 1.34% to around $2,133 and SOL was nearly unchanged near $88.81 after a March 17 spike. Despite the green closes, activity looked weaker, with Binance altcoin volume near $7.7 billion versus $40–50 billion at the October and February 2025 peaks and other exchanges totaling about $18.8 billion versus roughly $91 billion at prior highs.

Solana DApp revenue fell to $22 million last month, the weakest reading in 18 months after $36 million two months earlier. SOL is trading around $87, while derivatives indicators show muted positioning, including near-0% perp funding and a 12% options skew that reflects demand for downside protection. A daily close below $87 could leave $80 as the next level to watch, while a recovery would require reclaiming $100.

Solana’s SOL appears to be shifting from derivatives-led momentum toward spot-driven accumulation, with larger spot orders clustering between $80 and $100 and exchange balances falling to nearly 27 million SOL by March 2026. On-chain liquidity also expanded as stablecoin supply moved above $17 billion into early 2026. Together, the data points to supply being absorbed while readily tradable SOL tightens, potentially supporting a more stable base.

SOL fell 11% over three days after topping at $97.70 on Monday, and the drop to $87 on Thursday coincided with $25 million in leveraged long liquidations. Derivatives positioning turned cautious, with perpetual funding near 0% and a 12% 30-day options skew, while Solana DApp revenue sank to $22 million—its lowest level in 18 months—adding pressure to a potential $80 retest.

Forward Industries said Thursday it will repurchase 6,164,324 common shares from an unnamed institutional investor for about $27.4 million, cutting shares outstanding to 76,977,809. The buyback is financed by a $40 million loan from Galaxy Digital LLC at 3.4% interest, secured by 7,013,536 SOL worth roughly $613 million at current market prices.