Solana
Solana Faces Substantial Valuation Hurdles to Reach Record Highs
An analysis outlines the market capitalization and network adoption requirements for Solana to revisit past peaks.
Solana traded around $107 on October 21, 2026, leaving it approximately 63.6% below its peak of $293 reached in January 2025. While the token has recovered 40.8% over the past 90 days after dropping to $60 in June, it has traded between $100 and $124 throughout October.
According to an analysis, returning to its previous record would require a price increase of about 175%. Based on its circulating supply of 589.5 million tokens, this move would elevate Solana's market capitalization from roughly $63 billion to $172.9 billion. Such a valuation would account for over 6% of the current total crypto market cap, positioning it ahead of BNB and XRP.
The analysis points out that token dilution adds complexity, as Solana has no hard supply cap. With approximately 636.2 million tokens in existence, a return to prior peak pricing would correspond to a fully diluted valuation of about $186.6 billion. Meanwhile, validator software developer Anza scheduled the Alpenglow upgrade for October 21, targeting transaction finality speeds of around 150 milliseconds.
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More on Solana All pieces →
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