Solana Price Breaks $120 for the First Time in Eight Months as Activity Rises

• SOL crossed $120 for the first time since late January and reached $122.33.
• Solana stablecoin market cap reached a record $17.39 billion.
• Real-world assets on Solana have grown beyond $4.5 billion.

Solana crossed $120 for the first time in nearly eight months on September 25, extending a rally that has brought the token back to levels last seen in January.

An X summary centered on SOL’s move above $120 as network activity expanded across stablecoins, tokenized assets, and payments. Posts included in the trend showed SOL reaching $120 after spending much of September below that mark.

SOL climbed as high as $122.33 during the latest session. Binance market data later placed the token around $119.32 after the intraday pullback, still up about 2.8% over 24 hours. The trading range stretched from $115.86 to $122.33.

The Kobeissi Letter noted that the move above $120 was Solana’s first since January 29 and placed SOL more than 100% above its 2026 low.

SOL Price Moves Through the $120 Level

Meanwhile, the latest advance follows a steady September recovery. SOL traded near $117 earlier in the week before buyers pushed the token through $120. 

A Binance chart shared by Ash Crypto showed SOL at $120.92, with a 24-hour high of $122.33 and a low of $113.06 at the time of the post.

The price initially accelerated above $118 before moving through $120 and briefly testing $122.33.

That puts $122.33 as the nearest intraday high established during the breakout. SOL later moved back below $120, meaning the market has not continuously held above the level.

The move builds on the recovery already visible on September 21, when SOL reached $117.23 during a broader crypto rally. Bitcoin also moved above $86,000 that day. 

Solana Stablecoin Supply Sets New Record

Notably, the price move coincides with a new high for stablecoins held on Solana. Market data show stablecoin market capitalization at approximately $17.39 billion, matching the record cited in the X trend. 

Stablecoins form a large part of Solana’s payment, trading, and DeFi activity. The Solana Foundation said the network has processed more than $5 trillion in stablecoin volume during 2026. 

Network use has also expanded beyond stablecoins. Solana reported in early September that real-world asset value had already passed $4 billion across roughly 350,000 addresses during August. 

More recent figures cited by the Solana Foundation put real-world assets above $4.5 billion, while tokenized equity supply exceeded $620 million. 

Payments and Tokenized Assets Expand

Even so, Solana has added several payment and tokenization projects during recent months.

In August, Western Union launched a Visa card backed by USDPT, a stablecoin issued on Solana through Anchorage Digital. MoneyGram also introduced an API connecting Solana applications with its cash network across more than 170 countries. 

Tokenized assets have expanded at the same time. BlackRock’s BUIDL fund has more than $550 million represented on Solana, according to the network’s real-world asset portal. The chain also supports tokenized equities, ETFs, private credit, and commodities. 

The Solana Foundation added two executives this week as it expanded its institutional and payments teams. Former Binance executive Rachel Conlan joined as chief strategy officer, while former Polygon Labs executive Jamal Raees became general manager of payments. 

Conlan will oversee institutional partnerships and ecosystem strategy. Raees will work with payment companies and businesses using Solana as payments infrastructure.

For SOL, the immediate price reference is now the $122.33 session high. The token’s return above $120 marked its first trade at that level since late January, while the subsequent move below $120 shows the price is still testing that breakout area.

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