Is Solana a Good Investment Right Now at $90?

Solana (CRYPTO: SOL) is trading at $90.50. This reflects a slight 0.6% increase over the last 24 hours, but it has fallen 4.6% over the past week and 22.0% over the past month. SOL fell from $116.23 on October 7 to a 30-day low of $89.23 on November 5. Overall, it is 69.1% below its all-time high of $293.31, reached on January 19, 2025.

With SOL hovering around the $90 mark, a Solana price prediction largely depends on your investment timeline and risk tolerance. The key target is $200, as SOL has not traded above its one-year high of $167.38 since November 10, 2025.

What Would It Take for Solana to Reach $200 Again?

To reach $200, SOL needs to climb significantly from its current price of $90.50.

Solana’s market cap, calculated by multiplying its price by the circulating supply of coins, is currently $53.43 billion, making it the seventh-largest cryptocurrency. If SOL reached $200 with a circulating supply of 590,342,694 SOL, its market cap would be about $118.07 billion. However, it would still trail Ethereum (CRYPTO: ETH), which has a market cap of $272.12 billion.

Old highs become harder to reach as supply grows. Since SOL has no maximum supply, new coins are continuously added through staking rewards, which holders receive for securing the network. To match its previous high of $293.31, SOL would need a market cap of around $173.15 billion at today’s supply levels, significantly more than what it needed back in January 2025.

At the current price of $90.50, a $1,000 investment would buy about 11.05 SOL. Each price point reflects what those coins could be worth at the respective levels.

Drivers That Could Decide Whether Solana Goes Up

Leap’s Buy-and-Burn Strategy Lacks Initial Fees

Leap, a company under Solana Labs, launched a trading app on November 5. The beta app lets users trade tokenized stocks, ETFs, metals, currencies, and cryptocurrencies on Solana. Leap plans to use future trading fees to buy and burn SOL, thereby reducing the overall supply.

However, since the app has no fees yet, this burn mechanism isn’t active. The app is in early access, operating through iOS TestFlight, and is unavailable in the UK. The burn plan stays speculative until the app generates fees.

Solana ETF Flows Keep Leaning Negative

A spot ETF is a fund on a stock exchange that holds actual SOL, and its daily flows indicate traditional investor behavior. According to Farside, U.S. spot Solana ETFs experienced a net outflow of $0.8 million on November 5. Cumulative net inflows have reached $1.47 billion, with total net assets at $1.33 billion per SoSoValue.

That pattern of mostly one-way outflows points to bearish near-term sentiment, a sharp reversal from an earlier stretch of 19 straight days of inflows.

DeFi Deposits Show Interest That Price Hasn’t Followed

The total value locked in Solana’s decentralized finance (DeFi) platforms stands at about $5.32 billion, according to DefiLlama. SOL is also gaining attention, ranking third on CoinGecko, and a notable asset manager has launched a bond fund on the network. Despite these promising signals, SOL’s price has not yet reacted positively.

Will Solana Reach $200 Again?

It seems unlikely that SOL will reach $200 before the end of 2027, given that ETF money continues to flow out and Leap’s burn strategy has yet to be implemented. That would require a 121.0% gain, and the coin is struggling to hold its current levels.

For SOL to realistically approach $200, four steps must occur in sequence.

1. SOL must surpass its 50-day simple moving average of $108.39.
2. ETF inflows need to turn positive for at least one full week.
3. SOL must break above its 90-day high of $122.08, set on September 25.
4. SOL needs to surpass the one-year high of $167.38 before aiming for $200.

If these conditions falter, the 200-day moving average at $88.96 becomes essential to hold. A close below it could push SOL towards its one-year low of $62.18, reached on June 6, and potentially to the $50 downside target. While long-term forecasts for Solana’s price may run on a separate timeline, SOL needs a close above $108.39 and an uptick in ETF inflows before the $200 conversation is worth having again.

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