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Solana (SOL) Price Today: SOL Holds $120 as Stablecoins Hit $17.4B ATH and Alpenglow Nears – Oct 5, 2026
**Solana Family Daily Brief — Monday, October 5, 2026 (12:30 UTC)** ## SOL Price Snapshot - **SOL/USDT:** $120.66 (24h open $121.60) → **-0.77%** - **SOL/USDC:** $120.54 (24h open $121.56) → **-0.84%** - **24h range:** $120.00 – $122.30 - **Market cap:** ~$70.9B | **24h volume (all markets):** ~$2.5B SOL spent the last 24 hours in a tight ~2% range, with dip buyers defending the $120 level. It's a quiet session after last week's move back toward $119–$122 alongside Bitcoin's recovery above $86K. ## Top Solana Network News **1. Solana DeFi TVL at its highest since the Drift hack.** More than $6.5B is now locked in Solana DeFi, up about 38% in two months. Confidence in the ecosystem's protocols is coming back. (SolanaFloor) **2. Stablecoin supply hits a record $17.39B.** Tether and Circle added more than $1.2B in new liquidity on Solana within 24 hours, pushing stablecoin supply to an all-time high. Stablecoin growth is one of the clearest signs of real onchain demand. (SolanaFloor) **3. Alpenglow, Solana's biggest consensus upgrade, is on testnet.** Alpenglow will replace TowerBFT and targets ~150ms finality. Validators are now getting ready for formal activation. This is the main technical catalyst to watch heading into Breakpoint London. (SolanaFloor) **4. Faster blocks are already live.** The network now targets 250ms slot times, down from 400ms, and solana.com has published data on the measurable effects. (solana.com) **5. MPL-3643 brings permissioned securities to Solana.** This new standard enables onchain eligibility checks for tokenized securities and permissioned real-world assets (RWAs). It extends Solana's institutional RWA push after the SEC's Innovation Exemption for tokenized stocks. (SolanaFloor / solana.com) **6. Open USD is live on Solana.** This new stablecoin protocol lets businesses mint and burn 1:1 with the dollar at no fee, backed by more than $1B in committed liquidity. (solana.com) **7. Institutional flows and leadership.** Solana ETFs attracted $64.8M in a single day last week, even as overall US crypto ETF inflows cooled. The Solana Foundation also hired Rachel Conlan as Chief Strategy Officer and Jamal Raees as GM of Payments to speed up institutional and stablecoin adoption. (Cointelegraph / solana.com) **8. ZetaChain moves to Solana.** ZETA holders voted to wind down their L1 and migrate the token to Solana. This is another sign that Solana is becoming a home for other ecosystems. (Cointelegraph) ## Technical Picture - **Resistance:** $122.50 – $123.50 (a clean break opens $128–$130) - **Pivot:** ~$121.25 - **Support:** $120.20, then $118.95 - **RSI:** ~65 (firm, not overbought). **MACD:** flat. - **Derivatives:** long/short ratio ~1.8 and neutral funding (0.01%). Open interest fell ~7% in 24h, which suggests leverage is cooling rather than shorts piling in. ## Sentiment for the Next 24 Hours: Neutral-to-Bullish Fundamentals are the strongest they've been in months: record stablecoin supply, rising DeFi TVL, steady ETF inflows and Alpenglow moving forward. Price action, though, is consolidating just under resistance. **Base case:** range trading between $119 and $124. A daily close above $123.50 on volume would confirm a push toward $128–$130. Losing $118.95 would put the $115 area back in play. As always, Bitcoin's direction remains the biggest swing factor for SOL. *Not financial advice. Do your own research. See you tomorrow, Solana Family!* Sources: SolanaFloor, solana.com/news, Cointelegraph, Decrypt, CoinTurk; price data from OKX, Kraken and CoinGecko.