#SolanaNonVoteTxHits8.92B $SOL #ShareWeekly

8.92 billion non-vote transactions in one quarter is a serious amount of blockchain activity. But here's the question I care about more: how much of that activity represents sustainable demand, and how much comes from bots, automated trading or repeated transactions?

My view on SOL is cautiously constructive on network fundamentals, but the price chart still needs to prove that buyers are back in control.

1. The record is impressive, but the quality of activity matters

Solana recorded 8.92 billion successful non-vote transactions in Q3 2026, approximately 24% more than Q2's 7.19 billion.

That means roughly 1.73 billion additional transactions in a single quarter. Using the reported quarterly total, that's an average of around 97 million transactions per day.

The growth is meaningful because non-vote transactions exclude validator voting activity and capture things like transfers, trading and DeFi interactions.

However, a transaction count isn't the same as a user count. One person or automated program can generate thousands of transactions, and some trading activity can be repetitive or bot-driven.

I'd rather see transaction growth accompanied by more active users, sustained DeFi participation, stablecoin transfers and healthy application revenue. That combination would tell me more about the strength of the ecosystem than a record number alone.

2. Can the growth continue?

I think the opportunity is there, particularly if Solana continues attracting activity across decentralized exchanges, payments and on-chain financial applications.

The key is retention. A temporary burst of speculative trading can produce enormous transaction numbers, but activity can disappear when volatility and incentives cool down.

The better signal would be several consecutive quarters of strong activity, supported by users who continue using applications even when the market isn't exciting.

The recent Alpenglow upgrade is also worth watching for its potential to improve transaction finality. Better infrastructure can improve the user experience, but it doesn't automatically guarantee more demand or a higher SOL price.

3. My SOL chart: the important levels

On my attached daily chart, SOL is around $107.00. These levels are taken from my screenshot, not live quotes.

Immediate resistance: $109.73, approximately 2.6% above the displayed price.

Major resistance: $122.17, approximately 14.2% higher.

First support zone: $97.54, approximately 8.8% lower.

Lower support: $96.15, approximately 10.1% lower.

Longer-term moving average: $88.13, approximately 17.6% lower.

The first hurdle is reclaiming $109.73. If SOL can move above that level and hold it, the $122.17 resistance becomes the next important test.

On the downside, losing the $97–96 area would weaken the recovery setup and put the lower moving average into focus.

These are scenario levels, not guaranteed targets.

4. Momentum hasn't confirmed a breakout yet

My chart shows RSI around 42, which is below the neutral 50 level. That tells me momentum is still relatively weak despite the network's strong quarterly activity.

MACD is also negative, with its MACD line below the signal line. I would like to see both indicators improve alongside price before treating a recovery as a confirmed trend reversal.

This is the disconnect I'm watching: network usage has reached a record, but the technical picture hasn't fully reflected that strength.

5. My trading plan

I'm not buying SOL simply because transaction numbers look impressive. I'd watch for a sustained reclaim of the nearby moving average, improving momentum and a convincing move toward resistance.

If support breaks first, I'd rather reassess than assume strong network fundamentals will prevent a further decline.

My take: Solana's transaction growth strengthens the case that its ecosystem remains active, but the next challenge is proving that activity is sustainable and economically valuable. Network adoption and token price can move in different directions for longer than traders expect.

Not financial advice.

What would convince you more about SOL: another quarter of record transactions, growth in real users and application revenue, or a confirmed breakout above $122?
@Gate_Square

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